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 while riding the upper band
  • Price volatility was low. The market moved ~3.4%, between $10.95k and $10.59k

Today’s Trend analysis

  • BTCUSD expected to see a sideways movement as price rides upper band with Bollinger band expansion
  • Price at time of publishing: $10,903
  • BTC’s market cap: $201 Billion
  • Oscillator indicators are mostly neutral. RSI at 63
  • Moving average indicators are indicating an uptrend Ichimoku Cloud is neutral
  • Volume indicators from observed similar value for recent candles while spikes for blue candles were observed

Price expected to see a sideways movement as price rides upper band with Bollinger band expansion. 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 63, above the midline in the neutral region. CCI at around 167, in the overbought region indicating a downmove. Another interesting point to notice here is that the volume observed similar value for recent candles while spikes for blue candles were observed indicating strengthened buying pressure.

BTCUSD 4hr price chart via tradingview

Oscillator indicators

Most of the oscillators are neutral. CCI at 166 in the overbought region indicating a downtrend. RSI with a value of around 63 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
272
NameValueAction
Relative Strength Index (14)63.62Neutral
Stochastic %K (14, 3, 3)80.27Neutral
Commodity Channel Index (20)166.67Sell
Average Directional Index (14)22.18Neutral
Awesome Oscillator223.6Buy
Momentum (10)172.47Sell
MACD Level (12, 26)66.75Buy
Stochastic RSI Fast (3, 3, 14, 14)93.74Neutral
Williams Percent Range (14)−13.59Neutral
Bull Bear Power213.54Neutral
Ultimate Oscillator (7, 14, 28)61.4Neutral

Moving Average Indicators

Moving average (MA) indicators ae indicating an uptrend. 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
1115

MOVING AVERAGES

NameValueAction
Exponential Moving Average (5)10856.04Buy
Simple Moving Average (5)10860.38Buy
Exponential Moving Average (10)10809.59Buy
Simple Moving Average (10)10786.87Buy
Exponential Moving Average (20)10749.76Buy
Simple Moving Average (20)10743.68Buy
Exponential Moving Average (30)10718.38Buy
Simple Moving Average (30)10658.24Buy
Exponential Moving Average (50)10694.76Buy
Simple Moving Average (50)10634.25Buy
Exponential Moving Average (100)10700.91Buy
Simple Moving Average (100)10689.74Buy
Exponential Moving Average (200)10782.84Buy
Simple Moving Average (200)10793.81Buy
Ichimoku Cloud Base Line (9, 26, 52, 26)10615.01Neutral
Volume Weighted Moving Average (20)10743.15Buy
Hull Moving Average (9)10923.57Sell

Trade volume

In the recent few candles, the volume saw a similar value around 600 in recet candles with spikes of 1.6k for blue candles being below the 20-candle moving average which decreased from 1.2k to 960.


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