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 increase until getting a rejection from the upper band
  • Price volatility was high. The market moved ~2.94%, between $11.09k and $10.78k

Today’s Trend analysis

  • BTCUSD expected to see a downtrend as the price got rejected from upper band with lower highs and Bollinger band squeeze taking place
  • Price at time of publishing: $10,832
  • BTC’s market cap: $200 Billion
  • Oscillator indicators are mostly neutral. RSI at 57
  • Moving average indicators are mostly neutral. Ichimoku Cloud is neutral
  • Volume indicators observed an increase as the price increased and decreased as the price started to decrease

Price expected to see a downtrend as the price got rejected from upper band with lower highs and Bollinger band squeeze taking place. Most of the Oscillator indicators are neutral. MACD line crossed below the signal line, with the histogram in the negative region suggesting bearish bias. RSI at 57, above the midline in the neutral region with pullback from overbought. CCI at around 22, in the neutral region with a down move. Another interesting point to notice here is that the volume observed an increase as the price increased and decreased as the price started to decrease indicating a shift from buyers to sellers.

BTCUSD 4hr price chart via tradingview

Oscillator indicators

Most of the oscillators are neutral. CCI at 22 in the neutral region. RSI with a value of around 57 above 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)57.19Neutral
Stochastic %K (14, 3, 3)51.27Neutral
Commodity Channel Index (20)22.89Neutral
Average Directional Index (14)23.95Neutral
Awesome Oscillator333.52Neutral
Momentum (10)41.85Buy
MACD Level (12, 26)119.22Sell
Stochastic RSI Fast (3, 3, 14, 14)2.93Neutral
Williams Percent Range (14)−56.08Neutral
Bull Bear Power8.41Neutral
Ultimate Oscillator (7, 14, 28)43.48Neutral

Moving Average Indicators

Moving average (MA) indicators are mostly neutral. 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
719

MOVING AVERAGES

NameValueAction
Exponential Moving Average (5)10879.75Sell
Simple Moving Average (5)10904.36Sell
Exponential Moving Average (10)10865.8Sell
Simple Moving Average (10)10892.63Sell
Exponential Moving Average (20)10779.98Buy
Simple Moving Average (20)10788.07Buy
Exponential Moving Average (30)10704.3Buy
Simple Moving Average (30)10658.11Buy
Exponential Moving Average (50)10634.44Buy
Simple Moving Average (50)10515.44Buy
Exponential Moving Average (100)10705.87Buy
Simple Moving Average (100)10606.46Buy
Exponential Moving Average (200)10855.65Sell
Simple Moving Average (200)11147.28Sell
Ichimoku Cloud Base Line (9, 26, 52, 26)10657.45Neutral
Volume Weighted Moving Average (20)10803.48Buy
Hull Moving Average (9)10869.64Sell

Trade volume

In the recent few candles, there was an increase in volume from 902 to 3.2k as the price was increasing while the volume started to decrease from 3.2k to 845 as the price started to decrease, with the 20-candle moving average increasing from 1.94k to 2.089k and then decreasing back to 1.94k.


About Mudrex

Mudrex platform helps traders build no-code Algo trading bots using Technical analysis based indicators.

Mudrex Invest is a collection of reviewed and verified funds created by professional traders on Mudrex. Traders create these funds using their trading bots. Individual investors can invest in them for a monthly fee and gain the benefits of passive investing!
Signup today: https://mudrex.com/