This is BTCUSD daily price analysis, provided by Mudrex (automated crypto investing platform). This analysis is based on signals from 28 technical indicators, out of which 17 are moving averages and the remaining 11 are oscillators. These indicator values are calculated using 4 hr candles.

You can find price analysis from previous days on blog here and on Tradingview here.


Analysis Summary

Market in last 24hrs

  • BTCUSD saw a downtrend with price moving sideways
  • Price volatility was low. The market moved ~2.47%, between $11.48k and $11.2k

Today’s Trend analysis

  • BTCUSD expected to see a slight downtrend as gap down was observed with Bollinger band expansion taking place
  • Price at time of publishing: $11,316
  • BTC’s market cap: $209 Billion
  • Oscillator indicators are mostly neutral. RSI at 36
  • Moving average indicators are indicating a downtrend. Ichimoku Cloud is neutral
  • Volume indicators observed a decrease in the recent candles with an increase to 20-candle moving average

Price expected to see a slight downtrend as gap down was observed with Bollinger band expansion taking place. Most of the Oscillator indicators are neutral. MACD line approaching from below the signal line, with the histogram size decreasing in the negative direction. RSI at 36, below to the midline still in the neutral region. CCI at around -118, in the oversold region with an upmove from -188. Another interesting point to notice here is that the volume in the recent candles saw a decrease suggesting a weakening selling pressure, with an increase in 20-candle moving average.

BTCUSD 4hr price chart via tradingview

Oscillator indicators

Most of the oscillators are neutral. CCI at -118 in the oversold region with a pullback from a value of -188. RSI below the midline around 36 still in the neutral region.

Definition:- Oscillator indicators are based on the market’s property that what goes up must come down. Reversion to the mean is one of the most fundamental properties of any market. Oscillators are predictive in nature, specifying future price momentum.

SellNeutralBuy
191
NameValueAction
Relative Strength Index (14)36.39Neutral
Stochastic %K (14, 3, 3)22.61Neutral
Commodity Channel Index (20)−118.43Neutral
Average Directional Index (14)27.47Neutral
Awesome Oscillator−246.71Neutral
Momentum (10)−660.30Buy
MACD Level (12, 26)−69.89Sell
Stochastic RSI Fast (3, 3, 14, 14)6.26Neutral
Williams Percent Range (14)−83.42Neutral
Bull Bear Power−270.38Neutral
Ultimate Oscillator (7, 14, 28)50.57Neutral

Moving Average Indicators

Moving average (MA) indicators are indicating a downtrend. Ichimoku Cloud is neutral and Hull MA is indicating a selling opportunity.

Definition:- Moving Average indicators are lagging indicators that help catch trends when they are beginning to take effect. The idea is to buy when the trend is moving up and sell when the trend is falling.

SellNeutralBuy
1610

MOVING AVERAGES

NameValueAction
Exponential Moving Average (5)11390.06Sell
Simple Moving Average (5)11377.72Sell
Exponential Moving Average (10)11482.11Sell
Simple Moving Average (10)11513.59Sell
Exponential Moving Average (20)11563.68Sell
Simple Moving Average (20)11654.48Sell
Exponential Moving Average (30)11583.01Sell
Simple Moving Average (30)11635.35Sell
Exponential Moving Average (50)11593.87Sell
Simple Moving Average (50)11551.47Sell
Exponential Moving Average (100)11591.14Sell
Simple Moving Average (100)11643.38Sell
Exponential Moving Average (200)11384.72Sell
Simple Moving Average (200)11642.3Sell
Ichimoku Cloud Base Line (9, 26, 52, 26)11610.57Neutral
Volume Weighted Moving Average (20)11616.59Sell
Hull Moving Average (9)11321.19Sell

Trade volume

In the recent few candles, the volume observed a decrease as the price moved sideways after decreasing from 5.9k to 857 with the 20-candle moving average increasing from 1.9k to 2.4k.


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