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 followed by a price decline making price movement sideways overall
  • Price volatility was high. The market moved ~3.93%, between $13.2k and $12.7k

Today’s Trend analysis

  • BTCUSD expected to see a slight uptrend as Gap up has been completed with Bollinger band started to squeeze
  • Price at time of publishing: $13,003
  • BTC’s market cap: $241 Billion
  • Oscillator indicators are mostly neutral. RSI at 73
  • Moving average indicators are indicating an uptrend Ichimoku Cloud is neutral
  • Volume indicators observed an increase with an increase in price while a decrease in value with the price decline

Price expected to see a slight uptrend as Gap up has been completed with Bollinger band started to squeeze. Most of the Oscillator indicators are neutral. MACD line approaching from above the signal line, with the histogram size decreasing in the positive region suggesting bullish bias. RSI at 73, in the overbought region, indicating a downtrend. CCI at around 69, in the neutral region with a pullback from overbought. Another interesting point to notice here is that the volume observed an increase with an increase in price while a decrease in value with the price decline indicating a shift from buyers to sellers.

BTCUSD 4hr price chart via tradingview

Oscillator indicators

Most of the oscillators are neutral. CCI at 69 in the neutral region. RSI with a value of around 73 in 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
281
NameValueAction
Relative Strength Index (14)73.73Sell
Stochastic %K (14, 3, 3)77.49Neutral
Commodity Channel Index (20)70.85Neutral
Average Directional Index (14)69.26Neutral
Awesome Oscillator874.77Neutral
Momentum (10)280.47Sell
MACD Level (12, 26)350.19Buy
Stochastic RSI Fast (3, 3, 14, 14)16.51Neutral
Williams Percent Range (14)−22.98Neutral
Bull Bear Power351.58Neutral
Ultimate Oscillator (7, 14, 28)57.02Neutral

Moving Average Indicators

Moving average (MA) indicators are indicating an uptrend. Ichimoku Cloud is neutral and Hull MA is indicating a buying 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)12949.84Buy
Simple Moving Average (5)12985.17Sell
Exponential Moving Average (10)12851.66Buy
Simple Moving Average (10)12917.78Buy
Exponential Moving Average (20)12584.37Buy
Simple Moving Average (20)12533.43Buy
Exponential Moving Average (30)12369.33Buy
Simple Moving Average (30)12216.28Buy
Exponential Moving Average (50)12077.75Buy
Simple Moving Average (50)11884.53Buy
Exponential Moving Average (100)11674.95Buy
Simple Moving Average (100)11524.35Buy
Exponential Moving Average (200)11332.05Buy
Simple Moving Average (200)11089.96Buy
Ichimoku Cloud Base Line (9, 26, 52, 26)12322.47Neutral
Volume Weighted Moving Average (20)12598.19Buy
Hull Moving Average (9)12970.83Buy

Trade volume

In the recent few candles, the volume saw an increase from 2.23k to 4.61k with price increase while saw a decrease in volume was observed to 823 with the price decline, with the 20-candle moving average increasing from 3.08k to 3.46k.


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