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 followed by support from midline
  • Price volatility was high. The market moved ~2.64%, between $11.17k and $10.89k

Today’s Trend analysis

  • BTCUSD expected to see a sideways movement as the price saw a rejection from upper band followed by support from midline and lower highs observed
  • Price at time of publishing: $10,972
  • BTC’s market cap: $203 Billion
  • Oscillator indicators are mostly neutral. RSI at 54
  • Moving average indicators are indicating an uptrend. Ichimoku Cloud is neutral
  • Volume indicators observed ups and downs in the volume with high values for red candles

Price expected to see a sideways movement as the price saw a rejection from upper band followed by support from midline and lower highs observed. Most of the Oscillator indicators are neutral. MACD line crossed below the signal line, with the histogram size increasing in the negative region suggesting bearish bias. RSI at 54, above the midline in the neutral region. CCI at around 16, in the neutral region with pullback from overbought. Another interesting point to notice here is that the volume observed ups and downs in the volume with high values for red candles indicating a strong selling pressure.

BTCUSD 4hr price chart via tradingview

Oscillator indicators

Most of the oscillators are neutral. CCI at 16 in the neutral region. RSI with a value of around 54 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
290
NameValueAction
Relative Strength Index (14)54.15Neutral
Stochastic %K (14, 3, 3)38.99Neutral
Commodity Channel Index (20)16.87Neutral
Average Directional Index (14)17.27Neutral
Awesome Oscillator103.04Neutral
Momentum (10)104.94Sell
MACD Level (12, 26)64.64Sell
Stochastic RSI Fast (3, 3, 14, 14)5.64Neutral
Williams Percent Range (14)−57.25Neutral
Bull Bear Power−48.90Neutral
Ultimate Oscillator (7, 14, 28)56.67Neutral

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
5111

MOVING AVERAGES

NameValueAction
Exponential Moving Average (5)10989.13Sell
Simple Moving Average (5)11002Sell
Exponential Moving Average (10)10989Sell
Simple Moving Average (10)11005.71Sell
Exponential Moving Average (20)10951.13Buy
Simple Moving Average (20)10958.48Buy
Exponential Moving Average (30)10897.39Buy
Simple Moving Average (30)10931.73Buy
Exponential Moving Average (50)10810Buy
Simple Moving Average (50)10757.7Buy
Exponential Moving Average (100)10786.67Buy
Simple Moving Average (100)10505.14Buy
Exponential Moving Average (200)10874.72Buy
Simple Moving Average (200)11057.61Sell
Ichimoku Cloud Base Line (9, 26, 52, 26)10961.12Neutral
Volume Weighted Moving Average (20)10937.21Buy
Hull Moving Average (9)10960.16Buy

Trade volume

In the recent few candles, there was ups and downs observed with the traded volume with high values for red candles, the traded volume was between 1.39 k and 269 being below the 20-candle moving average which saw a decrease from 1.49k to 1.19k.


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