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 an uptrend followed by getting resistance from upper band
  • Price volatility was high. The market moved ~4.97%, between $10.79k and $10.28k

Today’s Trend analysis

  • BTCUSD expected to see an uptrend, price trading inside bands and after getting resistance midline support expected with higher lows being observed
  • Price at time of publishing: $10,594
  • BTC’s market cap: $196 Billion
  • Oscillator indicators are mostly neutral. RSI at 51
  • Moving average indicators are mostly neutral. Ichimoku Cloud is neutral
  • Volume indicators from observed high value for blue candles while relatively low value for red ones

Price expected to see an uptrend, price trading inside bands and after getting resistance midline support expected with higher lows being observed. Most of the Oscillator indicators are neutral. MACD line moving above signal line, with the histogram size increasing in the positive region suggesting bullish bias. RSI at 51, above the midline in the neutral region. CCI at around 59, in the neutral region with a pullback from overbought region. Another interesting point to notice here is that the volume observed high value for blue candle which increased as price increased while relatively low value for red candles indicating strengthened buying pressure.

BTCUSD 4hr price chart via tradingview

Oscillator indicators

Most of the oscillators are neutral. CCI at 69 in the neutral region with a pullback from overbought. RSI with a value of around 51 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
362
NameValueAction
Relative Strength Index (14)51.08Neutral
Stochastic %K (14, 3, 3)77.94Neutral
Commodity Channel Index (20)69.26Neutral
Average Directional Index (14)24.99Sell
Awesome Oscillator65.79Buy
Momentum (10)300.52Sell
MACD Level (12, 26)−8.49Buy
Stochastic RSI Fast (3, 3, 14, 14)81.05Neutral
Williams Percent Range (14)−30.82Neutral
Bull Bear Power140.91Sell
Ultimate Oscillator (7, 14, 28)59.73Neutral

Moving Average Indicators

Moving average (MA) indicators are mostly neutral. 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
917

MOVING AVERAGES

NameValueAction
Exponential Moving Average (5)10622.5Sell
Simple Moving Average (5)10669.76Sell
Exponential Moving Average (10)10572.21Buy
Simple Moving Average (10)10517.43Buy
Exponential Moving Average (20)10555.63Buy
Simple Moving Average (20)10479.58Buy
Exponential Moving Average (30)10579.74Buy
Simple Moving Average (30)10549.48Buy
Exponential Moving Average (50)10615.93Sell
Simple Moving Average (50)10712.57Sell
Exponential Moving Average (100)10674.67Sell
Simple Moving Average (100)10598.39Sell
Exponential Moving Average (200)10788.75Sell
Simple Moving Average (200)10873.76Sell
Ichimoku Cloud Base Line (9, 26, 52, 26)10567.64Neutral
Volume Weighted Moving Average (20)10489.27Buy
Hull Moving Average (9)10739.63Sell

Trade volume

In the recent few candles, the volume saw high value for blue candles which increase as price increased while low value for red candles, with volume traded between 848 and 2.69k, with the 20-candle moving average decreasing from 1.7k to 1.39k


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