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 after moving above the midline Bollinger band
  • Price volatility was low. The market moved ~2.1%, between $10.86k and $10.63k

Today’s Trend analysis

  • BTCUSD expected to see a slight downtrend as the price is riding the midline band with the support line to extend and price to decline till the support line
  • Price at time of publishing: $10,677
  • BTC’s market cap: $197 Billion
  • Oscillator indicators are mostly neutral. RSI at 47
  • Moving average indicators are indicating a downtrend Ichimoku Cloud is neutral
  • Volume indicators from observed an increase as price decreased while a decrease as price saw an increase

Price expected to see a slight downtrend as the price is riding the midline band with the support line to extend and price to decline till support line. Most of the Oscillator indicators are neutral. MACD line moving below the signal line, with the histogram size increasing in the negative region suggesting bearish bias. RSI at 47, below the midline in the neutral region. CCI at around -55, in the neutral region. Another interesting point to notice here is that the volume observed an increase as price increased while a decrease as price saw a decline indicating strengthened buying pressure.

BTCUSD 4hr price chart via tradingview

Oscillator indicators

Most of the oscillators are neutral. CCI at -55 in the neutral region. RSI with a value of around 47 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
290
NameValueAction
Relative Strength Index (14)47.96Neutral
Stochastic %K (14, 3, 3)26.47Neutral
Commodity Channel Index (20)−55.90Neutral
Average Directional Index (14)14.13Neutral
Awesome Oscillator3.58Neutral
Momentum (10)−161.36Sell
MACD Level (12, 26)10.89Sell
Stochastic RSI Fast (3, 3, 14, 14)8.08Neutral
Williams Percent Range (14)−75.74Neutral
Bull Bear Power−107.23Neutral
Ultimate Oscillator (7, 14, 28)47.02Neutral

Moving Average Indicators

Moving average (MA) indicators ae indicating a downtrend. 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
1511

MOVING AVERAGES

NameValueAction
Exponential Moving Average (5)10728.6Sell
Simple Moving Average (5)10743.14Sell
Exponential Moving Average (10)10743.1Sell
Simple Moving Average (10)10729.93Sell
Exponential Moving Average (20)10742.28Sell
Simple Moving Average (20)10762.37Sell
Exponential Moving Average (30)10729.49Sell
Simple Moving Average (30)10746.83Sell
Exponential Moving Average (50)10711.11Sell
Simple Moving Average (50)10640.72Buy
Exponential Moving Average (100)10708.91Sell
Simple Moving Average (100)10728.06Sell
Exponential Moving Average (200)10778.56Sell
Simple Moving Average (200)10758.67Sell
Ichimoku Cloud Base Line (9, 26, 52, 26)10771.79Neutral
Volume Weighted Moving Average (20)10775.41Sell
Hull Moving Average (9)10731.88Sell

Trade volume

In the recent few candles, the volume saw an increase in value as price decreased with a decrease in volume as price saw an increase with the traded volume in between 2.1k and 500, with the 20-candle moving average increasing from 944 to 1.13k.


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