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 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.

BTCUSD 4hr price chart via tradingview

Oscillator indicators

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.

SellNeutralBuy
380
NameValueAction
Relative Strength Index (14)42.51Neutral
Stochastic %K (14, 3, 3)47.48Neutral
Commodity Channel Index (20)−38.60Neutral
Average Directional Index (14)34.77Neutral
Awesome Oscillator−358.13Sell
Momentum (10)−95.58Sell
MACD Level (12, 26)−117.37Sell
Stochastic RSI Fast (3, 3, 14, 14)70.22Neutral
Williams Percent Range (14)−40.00Neutral
Bull Bear Power−95.28Neutral
Ultimate Oscillator (7, 14, 28)47.76Neutral

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
1115

MOVING AVERAGES

NameValueAction
Exponential Moving Average (5)10355.51Buy
Simple Moving Average (5)10311.99Buy
Exponential Moving Average (10)10386.09Buy
Simple Moving Average (10)10391.76Buy
Exponential Moving Average (20)10476.17Sell
Simple Moving Average (20)10449.18Sell
Exponential Moving Average (30)10544.2Sell
Simple Moving Average (30)10621.66Sell
Exponential Moving Average (50)10606.23Sell
Simple Moving Average (50)10747.37Sell
Exponential Moving Average (100)10677.63Sell
Simple Moving Average (100)10569.58Sell
Exponential Moving Average (200)10797.25Sell
Simple Moving Average (200)10902.25Sell
Ichimoku Cloud Base Line (9, 26, 52, 26)10567.64Neutral
Volume Weighted Moving Average (20)10442.4Sell
Hull Moving Average (9)10289.27Buy

Trade volume

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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