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 sideways movement with Bollinger band squeeze and price moving below the midline
  • Price volatility was very high. The market moved ~3.58%, between $10.36k and $10k

Today’s Trend analysis

  • BTCUSD expected to see a slight uptrend after getting support from the lower band as the price is trading between midline and lower band
  • Price at time of publishing: $10,017
  • BTC’s market cap: $185 Billion
  • Oscillator indicators are mostly neutral. RSI at 33
  • Moving average indicators are indicating a downtrend. Ichimoku Cloud is neutral
  • Volume indicators observed relatively low value indicating a bearish momentum as well as decrease in the trades

Price expected to see a slight uptrend after getting support from the lower band as the price is trading between midline and lower band. Most of the Oscillator indicators are neutral. MACD line moving above the signal line, with the histogram size decreasing in the positive direction. RSI at 33, in the neutral region. CCI at around -136, in the oversold region with a down move indicating an uptrend. Another interesting point to notice here is that the volume observed relatively low value indicating a bearish momentum as well as a decrease in the trades

BTCUSD 4hr price chart via tradingview

Oscillator indicators

Most of the oscillators are neutral. CCI at -136 in the oversold region with a down move indicating an uptrend. RSI with a value of around 33 below the midline 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)32.77Neutral
Stochastic %K (14, 3, 3)36.73Neutral
Commodity Channel Index (20)−136.00Neutral
Average Directional Index (14)56.07Neutral
Awesome Oscillator−464.54Neutral
Momentum (10)85.59Sell
MACD Level (12, 26)−233.13Buy
Stochastic RSI Fast (3, 3, 14, 14)72.6Neutral
Williams Percent Range (14)−71.89Neutral
Bull Bear Power−263.89Neutral
Ultimate Oscillator (7, 14, 28)46.38Neutral

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)10138.95Sell
Simple Moving Average (5)10177Sell
Exponential Moving Average (10)10192.9Sell
Simple Moving Average (10)10190.34Sell
Exponential Moving Average (20)10347.28Sell
Simple Moving Average (20)10269.7Sell
Exponential Moving Average (30)10516.52Sell
Simple Moving Average (30)10511.33Sell
Exponential Moving Average (50)10774.14Sell
Simple Moving Average (50)11001.08Sell
Exponential Moving Average (100)11091.52Sell
Simple Moving Average (100)11262.12Sell
Exponential Moving Average (200)11150.77Sell
Simple Moving Average (200)11515.09Sell
Ichimoku Cloud Base Line (9, 26, 52, 26)10663.68Neutral
Volume Weighted Moving Average (20)10293.77Sell
Hull Moving Average (9)10127.25Sell

Trade volume

In the recent few candles, the volume observed was relatively very low, the volume traded was between 2.1k and 962 being below the 20-candle moving average which decreased from 3.94k to 2.72k.


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