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 rejection from the upper band
  • Price volatility was high. The market moved ~5.95%, between $14.08k and $13.29k

Today’s Trend analysis

  • BTCUSD expected to see a downtrend as the price after getting upper band rejection saw a downtrend expecting it to continue
  • Price at time of publishing: $13,753
  • BTC’s market cap: $254 Billion
  • Oscillator indicators are mostly neutral. RSI at 54
  • Moving average indicators are indicating an uptrend Ichimoku Cloud is neutral
  • Volume indicators observed increase in value for blue candles while remained the same or decreased for a red candle

Price expected to see a downtrend as the price after getting upper band rejection saw a downtrend expecting it to continue. Most of the Oscillator indicators are neutral. MACD line crossed above the signal line, with the histogram size increasing in the positive region suggesting bullish bias. RSI at 54, in the neutral region below the midline. CCI at around 46, in the neutral region with a pullback from overbought. Another interesting point to notice here is that the volume observed increase in value for blue candles while remained the same or decreased for a red candle indicating relatively strong buying pressure.

BTCUSD 4hr price chart via tradingview

Oscillator indicators

Most of the oscillators are neutral. CCI at 45 in the neutral region. RSI with a value of around 54 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
173
NameValueAction
Relative Strength Index (14)54.35Neutral
Stochastic %K (14, 3, 3)80.15Sell
Commodity Channel Index (20)45.08Neutral
Average Directional Index (14)20.73Neutral
Awesome Oscillator161.16Buy
Momentum (10)267.81Buy
MACD Level (12, 26)71.3Buy
Stochastic RSI Fast (3, 3, 14, 14)75.72Neutral
Williams Percent Range (14)−35.75Neutral
Bull Bear Power251.98Neutral
Ultimate Oscillator (7, 14, 28)62.04Neutral

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
3113

MOVING AVERAGES

NameValueAction
Exponential Moving Average (5)13803.67Sell
Simple Moving Average (5)13836.37Sell
Exponential Moving Average (10)13738.85Buy
Simple Moving Average (10)13670.06Buy
Exponential Moving Average (20)13682.44Buy
Simple Moving Average (20)13684.23Buy
Exponential Moving Average (30)13630.49Buy
Simple Moving Average (30)13674.37Buy
Exponential Moving Average (50)13489.97Buy
Simple Moving Average (50)13557.67Buy
Exponential Moving Average (100)13060.11Buy
Simple Moving Average (100)13067.4Buy
Exponential Moving Average (200)12411.22Buy
Simple Moving Average (200)12060.63Buy
Ichimoku Cloud Base Line (9, 26, 52, 26)13660Neutral
Volume Weighted Moving Average (20)13674.21Buy
Hull Moving Average (9)14000.04Sell

Trade volume

In the recent few candles, the volume saw an increase from 1k to 3.418k for blue candles while remained the same followed by decreasing to 1.35k for red candles. The 20-candle moving average saw a slight increase from 1.69k to 1.86k.


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