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 with a breakout for midline reaching the upper Bollinger band
  • Price volatility was low. The market moved ~2.57%, between $10.93k and $10.65k

Today’s Trend analysis

  • BTCUSD expected to see an uptrend as higher lows were observed along with a slight expansion of Bollinger band
  • Price at time of publishing: $10,880
  • BTC’s market cap: $202 Billion
  • Oscillator indicators are mostly neutral. RSI at 59
  • Moving average indicators are indicating an uptrend Ichimoku Cloud is neutral
  • Volume indicators from observed an increase as price saw an increase with a few ups and downs due to sideways movement of price

Price expected to see an uptrend as higher lows were observed along with a slight expansion of the Bollinger band. Most of the Oscillator indicators are neutral. MACD line crossed above the signal line, with the histogram size increasing in the positive region suggesting bullish bias. RSI at 59, above the midline in the neutral region. CCI at around 122, in the overbought region. Another interesting point to notice here is that the volume observed an increase as price saw an increase with a few ups and downs due to sideways movement of price indicating strong buying pressure.

BTCUSD 4hr price chart via tradingview

Oscillator indicators

Most of the oscillators are neutral. CCI at 122 in the overbought region. RSI with a value of around 59 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
263
NameValueAction
Relative Strength Index (14)59.05Neutral
Stochastic %K (14, 3, 3)86.04Neutral
Commodity Channel Index (20)109.34Sell
Average Directional Index (14)16.76Neutral
Awesome Oscillator66.59Buy
Momentum (10)53.58Buy
MACD Level (12, 26)34.21Buy
Stochastic RSI Fast (3, 3, 14, 14)92.71Neutral
Williams Percent Range (14)−16.54Sell
Bull Bear Power201.61Neutral
Ultimate Oscillator (7, 14, 28)57.15Neutral

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)10847.98Buy
Simple Moving Average (5)10841.55Buy
Exponential Moving Average (10)10812.17Buy
Simple Moving Average (10)10781.02Buy
Exponential Moving Average (20)10782.71Buy
Simple Moving Average (20)10780.73Buy
Exponential Moving Average (30)10762.64Buy
Simple Moving Average (30)10771.72Buy
Exponential Moving Average (50)10736.49Buy
Simple Moving Average (50)10690.06Buy
Exponential Moving Average (100)10722.44Buy
Simple Moving Average (100)10748.55Buy
Exponential Moving Average (200)10780.77Buy
Simple Moving Average (200)10734.37Buy
Ichimoku Cloud Base Line (9, 26, 52, 26)10771.79Neutral
Volume Weighted Moving Average (20)10787.89Buy
Hull Moving Average (9)10902.53Sell

Trade volume

In the recent few candles, the volume saw an increase as the price increased with few ups and downs observed due to sideways movement of price, with the traded volume between 1.52k and 609, being mostly below the 20-candle moving average which increased from 1.12k to 1.21k.


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