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 consolidation after the price declined to get the lower Bollinger band support
  • Price volatility was very high. The market moved ~5.57%, between $13.49k and $12.78k

Today’s Trend analysis

  • BTCUSD expected to see an uptrend as the price after getting support from the lower band saw an uptrend with higher lows and the Bollinger band started to expand
  • Price at time of publishing: $13,408
  • BTC’s market cap: $245 Billion
  • Oscillator indicators are mostly neutral. RSI at 68
  • Moving average indicators are indicating an uptrend Ichimoku Cloud is neutral
  • Volume indicators observed a change from an increase in volume with price decline to an increase in volume with price increase

Price expected to see an uptrend as the price after getting support from the lower band saw an uptrend with higher lows and the Bollinger band started to expand. Most of the Oscillator indicators are neutral. MACD line approaching from below the signal line, with the histogram size decreasing in the negative region suggesting bearish bias. RSI at 68, in the neutral region. CCI at around 252, 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 price decline to an increase in volume with price increase indicating a shift from sellers to buyers.

BTCUSD 4hr price chart via tradingview

Oscillator indicators

Most of the oscillators are neutral. CCI at 252 in the overbought region. RSI with a value of around 68 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
281
NameValueAction
Relative Strength Index (14)68.75Neutral
Stochastic %K (14, 3, 3)70.65Neutral
Commodity Channel Index (20)252.11Neutral
Average Directional Index (14)45.55Neutral
Awesome Oscillator78.13Buy
Momentum (10)346.31Sell
MACD Level (12, 26)128.09Sell
Stochastic RSI Fast (3, 3, 14, 14)48.03Neutral
Williams Percent Range (14)−6.12Neutral
Bull Bear Power300.71Neutral
Ultimate Oscillator (7, 14, 28)63.98Neutral

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
0116

MOVING AVERAGES

NameValueAction
Exponential Moving Average (5)13193.71Buy
Simple Moving Average (5)13143.62Buy
Exponential Moving Average (10)13132.56Buy
Simple Moving Average (10)13105.1Buy
Exponential Moving Average (20)13053.04Buy
Simple Moving Average (20)13084.44Buy
Exponential Moving Average (30)12942.25Buy
Simple Moving Average (30)13044.79Buy
Exponential Moving Average (50)12694.27Buy
Simple Moving Average (50)12682Buy
Exponential Moving Average (100)12206.33Buy
Simple Moving Average (100)12041.15Buy
Exponential Moving Average (200)11701.79Buy
Simple Moving Average (200)11388.54Buy
Ichimoku Cloud Base Line (9, 26, 52, 26)13082.3Neutral
Volume Weighted Moving Average (20)13128.96Buy
Hull Moving Average (9)13207.72Buy

Trade volume

In the recent few candles, the volume saw an increase with price decline which changed to increase in volume with an increase in price, making the total traded volume between 3.86k and 959, mostly below the 20-candle moving average which increased from 1.43k to 1.65k.


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