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 downtrend with midline changing from support to resistance
  • Price volatility was very high. The market moved ~6.39%, between $13.71k and $12.89k

Today’s Trend analysis

  • BTCUSD expected to see a downtrend as the price after getting the midline support soon turned into resistance to see a downmove
  • Price at time of publishing: $13,142
  • BTC’s market cap: $243 Billion
  • Oscillator indicators are mostly neutral. RSI at 47
  • Moving average indicators are indicating a downtrend Ichimoku Cloud is neutral
  • Volume indicators observed an increase as the price saw a decline followed by a decrease in volume as the price increase

Price expected to see a downtrend as the price after getting the midline support soon turned into resistance to see a downmove. Most of the Oscillator indicators are neutral. MACD line moving below the signal line, with the histogram size decreasing in the negative region suggesting bearish bias. RSI at 47, in the neutral region with a downmove. CCI at around -60, in the neutral region with a downmove. Another interesting point to notice here is that the volume observed an increase as the price saw a decline followed by a decrease in volume as the price increased indicating a strong selling pressure.

BTCUSD 4hr price chart via tradingview

Oscillator indicators

Most of the oscillators are neutral. CCI at -47 in the neutral region. RSI with a value of around 47 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
191
NameValueAction
Relative Strength Index (14)47.61Neutral
Stochastic %K (14, 3, 3)30.66Neutral
Commodity Channel Index (20)−47.30Neutral
Average Directional Index (14)32.18Neutral
Awesome Oscillator18.03Neutral
Momentum (10)−525.31Buy
MACD Level (12, 26)67.32Sell
Stochastic RSI Fast (3, 3, 14, 14)4.89Neutral
Williams Percent Range (14)−73.74Neutral
Bull Bear Power−300.93Neutral
Ultimate Oscillator (7, 14, 28)53.02Neutral

Moving Average Indicators

Moving average (MA) indicators are indicating a downtrend. 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
917

MOVING AVERAGES

NameValueAction
Exponential Moving Average (5)13210.47Sell
Simple Moving Average (5)13199.54Sell
Exponential Moving Average (10)13272.67Sell
Simple Moving Average (10)13366.66Sell
Exponential Moving Average (20)13257.97Sell
Simple Moving Average (20)13294.89Sell
Exponential Moving Average (30)13177.22Sell
Simple Moving Average (30)13224.94Sell
Exponential Moving Average (50)12958.63Buy
Simple Moving Average (50)13072.59Buy
Exponential Moving Average (100)12461.47Buy
Simple Moving Average (100)12285.25Buy
Exponential Moving Average (200)11894.88Buy
Simple Moving Average (200)11556.23Buy
Ichimoku Cloud Base Line (9, 26, 52, 26)13319.2Neutral
Volume Weighted Moving Average (20)13354.05Sell
Hull Moving Average (9)13126.43Buy

Trade volume

In the recent few candles, the volume saw an increase from 1.85k to 7.57k with a price decline followed by a decrease in volume to 1.49k with a slight increase in price. The 20-candle moving average which increased from 2.16k to 2.75k.


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