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 consolidated followed by rejection from the upper band
  • Price volatility was high. The market moved ~3.96%, between $10.99k and $10.57k

Today’s Trend analysis

  • BTCUSD expected to see a downtrend as the price got rejected from the midline with the Bollinger band expansion taking place
  • Price at time of publishing: $10,580
  • BTC’s market cap: $196 Billion
  • Oscillator indicators are mostly neutral. RSI at 36
  • Moving average indicators are indicating a downtrend. Ichimoku Cloud is neutral
  • Volume indicators observed a decrease as the price increased with a spike with a sudden fall in price

Price expected to see a downtrend as the price got rejected from the midline with the Bollinger band expansion taking place. 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 36, below the midline in the neutral region. CCI at around -240, in the oversold region. Another interesting point to notice here is that the volume observed a decrease as the price increased with a spike with a sudden fall in price indicating a strong selling pressure

BTCUSD 4hr price chart via tradingview

Oscillator indicators

Most of the oscillators are neutral. CCI at -295 in the oversold region. RSI with a value of around 36 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
371
NameValueAction
Relative Strength Index (14)35.79Neutral
Stochastic %K (14, 3, 3)29.54Neutral
Commodity Channel Index (20)−295.74Neutral
Average Directional Index (14)16.48Neutral
Awesome Oscillator−55.64Sell
Momentum (10)−434.26Buy
MACD Level (12, 26)−1.87Sell
Stochastic RSI Fast (3, 3, 14, 14)18.16Neutral
Williams Percent Range (14)−94.10Neutral
Bull Bear Power−290.99Sell
Ultimate Oscillator (7, 14, 28)43.06Neutral

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
1511

MOVING AVERAGES

NameValueAction
Exponential Moving Average (5)10820.96Sell
Simple Moving Average (5)10855.6Sell
Exponential Moving Average (10)10877.94Sell
Simple Moving Average (10)10904.41Sell
Exponential Moving Average (20)10901.15Sell
Simple Moving Average (20)10942.38Sell
Exponential Moving Average (30)10879.54Sell
Simple Moving Average (30)10935.71Sell
Exponential Moving Average (50)10817.54Sell
Simple Moving Average (50)10809.13Sell
Exponential Moving Average (100)10793.46Sell
Simple Moving Average (100)10534.14Buy
Exponential Moving Average (200)10873.13Sell
Simple Moving Average (200)11022.17Sell
Ichimoku Cloud Base Line (9, 26, 52, 26)10884.01Neutral
Volume Weighted Moving Average (20)10885.3Sell
Hull Moving Average (9)10836Sell

Trade volume

In the recent few candles, the volume saw a decline from 1.99k to 791 as the price saw an uptrend with a spike being observed at 2.58k as the price saw a sudden decline with the 20-candle moving average had a similar value around 1.1k.


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