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.
Market in last 24hrs
- BTCUSD saw a downtrend as the price after declining to get support from the lower band to consolidate
- Price volatility was high. The market moved ~3.92%, between $10.54k and $10.31k
Today’s Trend analysis
- BTCUSD expected to see an uptrend, price trading between midline and lower band followed by getting support from the lower band with Bollinger band expansion
- Price at time of publishing: $10,409
- BTC’s market cap: $192 Billion
- Oscillator indicators are mostly neutral. RSI at 42
- Moving average indicators are indicating a downtrend. Ichimoku Cloud is neutral
- Volume indicators from observing a decrease in volume as a price increase to increase in volume as the price increased
Price expected to see an uptrend, price trading between midline and lower band followed by getting support from the lower band with Bollinger band expansion. Most of the Oscillator indicators are neutral. MACD line approaching signal line from below, with the histogram size decreasing in the negative region suggesting bearish bias. RSI at 42, below the midline in the neutral region. CCI at around -86, in the neutral region with an up move. Another interesting point to notice here is that the volume from observing a decrease in volume as a price increase to increase in volume as the price increased indicates a shift from sellers to buyers.
Most of the oscillators are neutral. CCI at -38 in the neutral region. RSI with a value of around 42 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.
|Relative Strength Index (14)||42.51||Neutral|
|Stochastic %K (14, 3, 3)||47.48||Neutral|
|Commodity Channel Index (20)||−38.60||Neutral|
|Average Directional Index (14)||34.77||Neutral|
|MACD Level (12, 26)||−117.37||Sell|
|Stochastic RSI Fast (3, 3, 14, 14)||70.22||Neutral|
|Williams Percent Range (14)||−40.00||Neutral|
|Bull Bear Power||−95.28||Neutral|
|Ultimate Oscillator (7, 14, 28)||47.76||Neutral|
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.
|Exponential Moving Average (5)||10355.51||Buy|
|Simple Moving Average (5)||10311.99||Buy|
|Exponential Moving Average (10)||10386.09||Buy|
|Simple Moving Average (10)||10391.76||Buy|
|Exponential Moving Average (20)||10476.17||Sell|
|Simple Moving Average (20)||10449.18||Sell|
|Exponential Moving Average (30)||10544.2||Sell|
|Simple Moving Average (30)||10621.66||Sell|
|Exponential Moving Average (50)||10606.23||Sell|
|Simple Moving Average (50)||10747.37||Sell|
|Exponential Moving Average (100)||10677.63||Sell|
|Simple Moving Average (100)||10569.58||Sell|
|Exponential Moving Average (200)||10797.25||Sell|
|Simple Moving Average (200)||10902.25||Sell|
|Ichimoku Cloud Base Line (9, 26, 52, 26)||10567.64||Neutral|
|Volume Weighted Moving Average (20)||10442.4||Sell|
|Hull Moving Average (9)||10289.27||Buy|
In the recent few candles, the volume saw an increase from 595 to 2.9k as the price decreased followed by a decrease to 560 as price increased ending with an increase in volume to 790 with the 20-candle moving average increasing from 1.48 to 1.69.
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