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 reaching the high at the upper Bollinger band
  • Price volatility was high. The market moved ~2.83%, between $11.03k and $10.73k

Today’s Trend analysis

  • BTCUSD expected to see a decline and get support form midline followed by consolidation as the price is trading between upper band and mildine recently with Bollinger band squeeze
  • Price at time of publishing: $10,975
  • BTC’s market cap: $203 Billion
  • Oscillator indicators are mostly neutral. RSI at 65
  • Moving average indicators are indicating an uptrend. Ichimoku Cloud is neutral
  • Volume indicators observed an increase as the price decreased and increased as the price started to increase

Price expected to see a decline and get support form midline followed by consolidation as the price is trading between upper band and mildine recently with Bollinger band squeeze. Most of the Oscillator indicators are neutral. MACD line moving below the signal line, with the histogram size decreasing in the negative region suggesting bearish bias. RSI at 65, above the midline in the neutral region. CCI at around 96, in the neutral region with an upmove. Another interesting point to notice here is that the volume observed an increase as the price decreased and increased as the price started to increase indicating strengthen selling pressure.

BTCUSD 4hr price chart via tradingview

Oscillator indicators

Most of the oscillators are neutral. CCI at 96 in the neutral region. RSI with a value of around 65 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
281
NameValueAction
Relative Strength Index (14)65.75Neutral
Stochastic %K (14, 3, 3)65.15Neutral
Commodity Channel Index (20)96.01Neutral
Average Directional Index (14)21.06Neutral
Awesome Oscillator220.47Buy
Momentum (10)−4.39Sell
MACD Level (12, 26)101.10Sell
Stochastic RSI Fast (3, 3, 14, 14)38.14Neutral
Williams Percent Range (14)−33.13Neutral
Bull Bear Power161.99Neutral
Ultimate Oscillator (7, 14, 28)64.66Neutral

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
1115

MOVING AVERAGES

NameValueAction
Exponential Moving Average (5)10947.13Buy
Simple Moving Average (5)10946.13Buy
Exponential Moving Average (10)10921.96Buy
Simple Moving Average (10)10917.07Buy
Exponential Moving Average (20)10853.27Buy
Simple Moving Average (20)10885.23Buy
Exponential Moving Average (30)10782.41Buy
Simple Moving Average (30)10756Buy
Exponential Moving Average (50)10699.7Buy
Simple Moving Average (50)10596.71Buy
Exponential Moving Average (100)10732.3Buy
Simple Moving Average (100)10551.09Buy
Exponential Moving Average (200)10860.52Buy
Simple Moving Average (200)11119.29Sell
Ichimoku Cloud Base Line (9, 26, 52, 26)10710.23Neutral
Volume Weighted Moving Average (20)10888.46Buy
Hull Moving Average (9)10972.29Buy

Trade volume

In the recent few candles, there was an increase in volume from 845 to 2.2k as the price was decreasing while the volume started to decrease from 2.2k to 834 as the price started to increase, with the 20-candle moving average decreasing from 2k to 1.69k.


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