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 after getting lower Bollinger band support
  • Price volatility was very high. The market moved ~3.89%, between $16.40k and $15.78k

Today’s Trend analysis

  • BTCUSD expected to see a slight downtrend as the price has been trading between the bands, with upper band resistance expected
  • Price at time of publishing: $16,332
  • BTC’s market cap: $301 Billion
  • Oscillator indicators are mostly neutral. RSI at 61
  • Moving average indicators are indicating an uptrend Ichimoku Cloud is neutral
  • Volume indicators observed a decrease in value for red candles while observed an increase for blue candles

Price expected to see a slight downtrend as the price has been trading between the bands, with upper band resistance expected. 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 61, in the neutral region above the midline. CCI at around 125, in the overbought region indicating a downtrend. Another interesting point to notice here is that the volume observed a decrease in value for red candles while observed an increase for blue candles indicating a shift from sellers to buyers.

BTCUSD 4hr price chart via tradingview

Oscillator indicators

Most of the oscillators are neutral. CCI at 125 in the overbought region. RSI with a value of around 61 above 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
371
NameValueAction
Relative Strength Index (14)60.89Neutral
Stochastic %K (14, 3, 3)74.35Neutral
Commodity Channel Index (20)120.53Sell
Average Directional Index (14)15.08Neutral
Awesome Oscillator97.68Buy
Momentum (10)435.93Sell
MACD Level (12, 26)94.62Sell
Stochastic RSI Fast (3, 3, 14, 14)76.29Neutral
Williams Percent Range (14)−10.47Neutral
Bull Bear Power412.64Neutral
Ultimate Oscillator (7, 14, 28)56.38Neutral

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)16162.22Buy
Simple Moving Average (5)16091.47Buy
Exponential Moving Average (10)16100.18Buy
Simple Moving Average (10)16055.16Buy
Exponential Moving Average (20)16041.99Buy
Simple Moving Average (20)16096.76Buy
Exponential Moving Average (30)15956.63Buy
Simple Moving Average (30)16049.26Buy
Exponential Moving Average (50)15728.9Buy
Simple Moving Average (50)15767.37Buy
Exponential Moving Average (100)15096.14Buy
Simple Moving Average (100)15029.82Buy
Exponential Moving Average (200)14074.68Buy
Simple Moving Average (200)13737.24Buy
Ichimoku Cloud Base Line (9, 26, 52, 26)16046.96Neutral
Volume Weighted Moving Average (20)16119.73Buy
Hull Moving Average (9)16205.84Buy

Trade volume

In the recent few candles, the volume saw a decline in value for red candles while the volume increased for blue candles, making the total traded volume in between 1.34k and 237. The 20-candle moving average saw a decrease in value from 1.45k to 869.


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