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 with the price riding the upper Bolliger band
  • Price volatility was very high. The market moved ~4.75%, between $16.95k and $16.18k

Today’s Trend analysis

  • BTCUSD expected to see a sideways movement as the price after riding the upper band got rejected with Bollinger band expanding
  • Price at time of publishing: $16,973
  • BTC’s market cap: $313 Billion
  • Oscillator indicators are mostly neutral. RSI at 65
  • Moving average indicators are indicating an uptrend Ichimoku Cloud is neutral
  • Volume indicators observed an increase in volume as the price increased which changed to a decline in volume with the sideways movement of price

Price expected to see a sideways movement as the price after riding the upper band got rejected. Most of the Oscillator indicators are neutral. MACD line moving above the signal line, with the histogram size decreasing in the positive region suggesting bullish bias. RSI at 65, 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 Bollinger band expansion has started to take place.

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
272
NameValueAction
Relative Strength Index (14)65.67Neutral
Stochastic %K (14, 3, 3)83.01Neutral
Commodity Channel Index (20)128.52Sell
Average Directional Index (14)22.85Neutral
Awesome Oscillator547.95Buy
Momentum (10)894.06Sell
MACD Level (12, 26)222.77Buy
Stochastic RSI Fast (3, 3, 14, 14)76.19Neutral
Williams Percent Range (14)−11.87Neutral
Bull Bear Power530.39Neutral
Ultimate Oscillator (7, 14, 28)59.09Neutral

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
1115

MOVING AVERAGES

NameValueAction
Exponential Moving Average (5)16667.45Buy
Simple Moving Average (5)16728.96Buy
Exponential Moving Average (10)16516.78Buy
Simple Moving Average (10)16458.58Buy
Exponential Moving Average (20)16330.91Buy
Simple Moving Average (20)16223.66Buy
Exponential Moving Average (30)16194.19Buy
Simple Moving Average (30)16230.93Buy
Exponential Moving Average (50)15930.34Buy
Simple Moving Average (50)15931.16Buy
Exponential Moving Average (100)15274.07Buy
Simple Moving Average (100)15207.28Buy
Exponential Moving Average (200)14225.7Buy
Simple Moving Average (200)13895.8Buy
Ichimoku Cloud Base Line (9, 26, 52, 26)16305.02Neutral
Volume Weighted Moving Average (20)16272.09Buy
Hull Moving Average (9)16832.28Sell

Trade volume

In the recent few candles, the volume saw an increase from 1.22k to 5.35k as the price increased, followed by a decline to 907 as the price moved sideways. The 20-candle moving average decreased from 1.73k to 1.63k.


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