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 an uptrend with BB expansion and price riding the upper band
  • Price volatility was high. The market moved ~5.31%, between $10.87k and $10.32k

Today’s Trend analysis

  • BTCUSD expected to see an uptrend as the price is riding the upper band with lower highs observed and Bollinger band expansion
  • Price at time of publishing: $10,832
  • BTC’s market cap: $200 Billion
  • Oscillator indicators are mostly neutral. RSI at 69
  • Moving average indicators are indicating an uptrend. Ichimoku Cloud is neutral
  • Volume indicators observed a decrease as the price increased with a low value for a red candle

Price expected to see an uptrend as the price is riding the upper band with lower highs observed and Bollinger band expansion. Most of the Oscillator indicators are neutral. MACD line moving above the signal line, with the histogram in the positive direction suggesting bullish bias. RSI at 69, above the midline close to the overbought region. CCI at around 151, in the overbought region with an up move. Another interesting point to notice here is that the volume observed a decrease as the price increased with a low value for a red candle indicating a tweaking selling pressure.

BTCUSD 4hr price chart via tradingview

Oscillator indicators

Most of the oscillators are neutral. CCI at 151 in the overbought region. RSI with a value of around 69 close to the overbought 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
272
NameValueAction
Relative Strength Index (14)69.78Sell
Stochastic %K (14, 3, 3)88.75Neutral
Commodity Channel Index (20)151.12Neutral
Average Directional Index (14)20.61Neutral
Awesome Oscillator316.84Buy
Momentum (10)532.03Sell
MACD Level (12, 26)112.65Buy
Stochastic RSI Fast (3, 3, 14, 14)98.19Neutral
Williams Percent Range (14)−5.47Neutral
Bull Bear Power285.03Neutral
Ultimate Oscillator (7, 14, 28)67.24Neutral

Moving Average Indicators

Moving average (MA) indicators are indicating an uptrend. Ichimoku Cloud is neutral and Hull MA is indicating a buying 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
2114

MOVING AVERAGES

NameValueAction
Exponential Moving Average (5)10735.85Buy
Simple Moving Average (5)10738.58Buy
Exponential Moving Average (10)10642.37Buy
Simple Moving Average (10)10596.43Buy
Exponential Moving Average (20)10537.78Buy
Simple Moving Average (20)10497.32Buy
Exponential Moving Average (30)10487.03Buy
Simple Moving Average (30)10437.94Buy
Exponential Moving Average (50)10483.9Buy
Simple Moving Average (50)10338.04Buy
Exponential Moving Average (100)10659.61Buy
Simple Moving Average (100)10698.87Buy
Exponential Moving Average (200)10853.17Sell
Simple Moving Average (200)11196.71Sell
Ichimoku Cloud Base Line (9, 26, 52, 26)10539.99Neutral
Volume Weighted Moving Average (20)10526.13Buy
Hull Moving Average (9)10831.87Buy

Trade volume

In the recent few candles, there was a decrease in volume as the price saw an uptrend with a low value for the red candle, the traded volume was between 4.4k and 942 with an increase in 20-candle moving average from 1.55k to 1.66k.


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