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 breaking the lower Bollinger band
  • Price volatility was high. The market moved ~7.16%, between $10.9k and $10.18k

Today’s Trend analysis

  • BTCUSD expected to see a sideways movement as the price is trading between the lower band and midline, lower band giving the support with the Bollinger band expansion taking place
  • Price at time of publishing: $10,473
  • BTC’s market cap: $194 Billion
  • Oscillator indicators are mostly neutral. RSI at 37
  • Moving average indicators are indicating a downtrend. Ichimoku Cloud is neutral
  • Volume indicators observed an increase as the price decreased while saw a decrease in volume as price moved sideways

Price expected to see a sideways movement as the price is trading between the lower band and midline, lower band giving the support 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 37, below 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 while saw a decrease in volume as price moved sideways indicating a strenghten 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 37 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
281
NameValueAction
Relative Strength Index (14)37.01Neutral
Stochastic %K (14, 3, 3)18.36Buy
Commodity Channel Index (20)−96.02Neutral
Average Directional Index (14)27.82Neutral
Awesome Oscillator−412.29Neutral
Momentum (10)−410.21Sell
MACD Level (12, 26)−121.52Sell
Stochastic RSI Fast (3, 3, 14, 14)18.39Neutral
Williams Percent Range (14)−75.74Neutral
Bull Bear Power−377.52Neutral
Ultimate Oscillator (7, 14, 28)42.57Neutral

Moving Average Indicators

Moving average (MA) indicators are indicating a downtrend. 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
1412

MOVING AVERAGES

NameValueAction
Exponential Moving Average (5)10466.1Sell
Simple Moving Average (5)10437.24Buy
Exponential Moving Average (10)10566.35Sell
Simple Moving Average (10)10602.01Sell
Exponential Moving Average (20)10690.18Sell
Simple Moving Average (20)10792.56Sell
Exponential Moving Average (30)10732.7Sell
Simple Moving Average (30)10836.49Sell
Exponential Moving Average (50)10735.83Sell
Simple Moving Average (50)10818.29Sell
Exponential Moving Average (100)10752.92Sell
Simple Moving Average (100)10542.92Sell
Exponential Moving Average (200)10847.62Sell
Simple Moving Average (200)10982.59Sell
Ichimoku Cloud Base Line (9, 26, 52, 26)10734.79Neutral
Volume Weighted Moving Average (20)10654.21Sell
Hull Moving Average (9)10346.96Buy

Trade volume

In the recent few candles, the volume saw an increase as from 791 to 5.07k as the price decreased followed by sideways movement of price resulting in decline in volume to 568 with the 20-candle moving average increasing from 1.1k to 1.5k


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