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 continued uptrend with price riding the upper band
  • Price volatility was very high. The market moved ~5.21%, between $12.32k and $11.71k

Today’s Trend analysis

  • BTCUSD expected to see a sideways movement as the price observed resistance from the upper band after riding the upper Bollinger band and Bollinger band expansion
  • Price at time of publishing: $12,214
  • BTC’s market cap: $226 Billion
  • Oscillator indicators are mostly neutral. RSI at 79
  • Moving average indicators are indicating an uptrend Ichimoku Cloud is neutral
  • Volume indicators observed a change from an increase in volume with the price increase to a decrease in volume as the price increases

Price expected to see a sideways movement as the price observed resistance from the upper band after riding the upper Bollinger band and Bollinger band expansion. Most of the Oscillator indicators are neutral. MACD line moving above the signal line, with the histogram size increasing in the positive region suggesting bullish bias. RSI at 79, in the overbought region, indicating a downtrend. CCI at around 149, in the overbought region indicating a downtrend. Another interesting point to notice here is that the volume observed a change from an increase in volume with the price increase to a decrease in volume as the price increases indicating a shift from buyers to sellers.

BTCUSD 4hr price chart via tradingview

Oscillator indicators

Most of the oscillators are neutral. CCI at 149 in the overbought region. RSI with a value of around 79in the overbought 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)79.09Sell
Stochastic %K (14, 3, 3)90.31Neutral
Commodity Channel Index (20)149.89Sell
Average Directional Index (14)46.67Neutral
Awesome Oscillator502.98Buy
Momentum (10)526.31Sell
MACD Level (12, 26)192.39Buy
Stochastic RSI Fast (3, 3, 14, 14)98.66Neutral
Williams Percent Range (14)−9.80Neutral
Bull Bear Power585.19Neutral
Ultimate Oscillator (7, 14, 28)56.11Neutral

Moving Average Indicators

Moving average (MA) indicators are 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)12108.05Buy
Simple Moving Average (5)12092.69Buy
Exponential Moving Average (10)11974.18Buy
Simple Moving Average (10)11942Buy
Exponential Moving Average (20)11804.69Buy
Simple Moving Average (20)11730.99Buy
Exponential Moving Average (30)11703.4Buy
Simple Moving Average (30)11603.1Buy
Exponential Moving Average (50)11567.37Buy
Simple Moving Average (50)11526.31Buy
Exponential Moving Average (100)11342.34Buy
Simple Moving Average (100)11261.16Buy
Exponential Moving Average (200)11132.32Buy
Simple Moving Average (200)10975.32Buy
Ichimoku Cloud Base Line (9, 26, 52, 26)11788.83Neutral
Volume Weighted Moving Average (20)11899.94Buy
Hull Moving Average (9)12256.27Sell

Trade volume

In the recent few candles, the volume saw an increase from 1.42k to 3.53k as the price increased while volume decreased to 1.61k as price observed a decline finally decreasing with price increase being above the 20-candle moving average which saw an increase from 1.04k to 1.75k.


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