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 a rejection from upper band
  • Price volatility was high. The market moved ~3.92%, between $11.64k and $11.21k

Today’s Trend analysis

  • BTCUSD expected to see a downtrend as the price after trading inside the bands got resistance from the upper band
  • Price at time of publishing: $12,329
  • BTC’s market cap: $209 Billion
  • Oscillator indicators are mostly neutral. RSI at 46
  • Moving average indicators are indicating a downtrend Ichimoku Cloud is neutral
  • Volume indicators observed from increasing with the price increase to an increase in volume with price decline

Price expected to see a downtrend as the price after trading inside the bands got resistance from the upper band. Most of the Oscillator indicators are neutral. MACD line crossed below the signal line, with the histogram size decreasing in the negative region suggesting bearish bias. RSI at 46, below the midline in the neutral region. CCI at around -113, in the oversold region indicating an uptrend. Another interesting point to notice here is that the volume observed from increasing with the price increase to an increase in volume with price decline suggesting a shift from buyers to sellers.

BTCUSD 4hr price chart via tradingview

Oscillator indicators

Most of the oscillators are neutral. CCI at -113 in the oversold region. RSI with a value of around 46 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
173
NameValueAction
Relative Strength Index (14)46.41Neutral
Stochastic %K (14, 3, 3)42.32Neutral
Commodity Channel Index (20)−113.13Buy
Average Directional Index (14)22.4Neutral
Awesome Oscillator23.9Neutral
Momentum (10)−32.97Buy
MACD Level (12, 26)27.28Sell
Stochastic RSI Fast (3, 3, 14, 14)29.95Neutral
Williams Percent Range (14)−71.77Neutral
Bull Bear Power−241.08Buy
Ultimate Oscillator (7, 14, 28)54.56Neutral

Moving Average Indicators

Moving average (MA) indicators are 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
1016

MOVING AVERAGES

NameValueAction
Exponential Moving Average (5)11389.33Sell
Simple Moving Average (5)11439.29Sell
Exponential Moving Average (10)11404.3Sell
Simple Moving Average (10)11414.46Sell
Exponential Moving Average (20)11396.49Sell
Simple Moving Average (20)11408.57Sell
Exponential Moving Average (30)11361.98Sell
Simple Moving Average (30)11413.46Sell
Exponential Moving Average (50)11267.88Buy
Simple Moving Average (50)11290.63Buy
Exponential Moving Average (100)11089.27Buy
Simple Moving Average (100)10972.36Buy
Exponential Moving Average (200)10959.16Buy
Simple Moving Average (200)10842.65Buy
Ichimoku Cloud Base Line (9, 26, 52, 26)11453.85Neutral
Volume Weighted Moving Average (20)11400.2Sell
Hull Moving Average (9)11411.28Sell

Trade volume

In the recent few candles, the volume saw an increase from 755 to 2.09k as the price increased while changing to an increase in volume with price decrease making the total traded volume being between 3.08k and 755, with the 20-candle moving average having a similar value around 14k.


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