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 continued uptrend with the price riding the upper band with high volumes
  • Price volatility was very high. The market moved ~11.12%, between $18.48k and $16.63k

Today’s Trend analysis

  • BTCUSD expected to see an uptrend as the price has been riding the upper band with higher lows and the Bollinger band expansion
  • Price at time of publishing: $18,177
  • BTC’s market cap: $337 Billion
  • Oscillator indicators are mostly neutral. RSI at 82
  • Moving average indicators are indicating an uptrend Ichimoku Cloud is neutral
  • Volume indicators observed an increase in volume for blue candles while the low value for a red candle

Price expected to see an uptrend as the price has been riding the upper band with higher lows and the Bollinger band expansion. 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 82, in the overbought region indicating a downtrend soon. CCI at around 146, in the overbought region indicating a downtrend. Another interesting point to notice here is that the volume observed an increase in volume for blue candles while the low value for a red candle.

BTCUSD 4hr price chart via tradingview

Oscillator indicators

Most of the oscillators are neutral. CCI at 146 in the overbought region. RSI with a value of around 82 in the overbought 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
254
NameValueAction
Relative Strength Index (14)82Sell
Stochastic %K (14, 3, 3)90.96Neutral
Commodity Channel Index (20)146.33Sell
Average Directional Index (14)34.69Neutral
Awesome Oscillator1293.19Buy
Momentum (10)1432.11Buy
MACD Level (12, 26)542.51Buy
Stochastic RSI Fast (3, 3, 14, 14)100Neutral
Williams Percent Range (14)−10.05Neutral
Bull Bear Power1475.8Neutral
Ultimate Oscillator (7, 14, 28)77.11Buy

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)17914.07Buy
Simple Moving Average (5)17950.51Buy
Exponential Moving Average (10)17529.57Buy
Simple Moving Average (10)17418.33Buy
Exponential Moving Average (20)17051.15Buy
Simple Moving Average (20)16793.08Buy
Exponential Moving Average (30)16761.32Buy
Simple Moving Average (30)16558.45Buy
Exponential Moving Average (50)16351.55Buy
Simple Moving Average (50)16233.68Buy
Exponential Moving Average (100)15570.67Buy
Simple Moving Average (100)15454.2Buy
Exponential Moving Average (200)14439.29Buy
Simple Moving Average (200)14089.04Buy
Ichimoku Cloud Base Line (9, 26, 52, 26)17099.05Neutral
Volume Weighted Moving Average (20)17197.71Buy
Hull Moving Average (9)18336.26Sell

Trade volume

In the recent few candles, the volume saw an increase from 1.8k to 10.1k as the blue candles were observed, decreasing to 3.3k for red candles. Followed by an increase to 10.8k for subsequent blue candles. The 20-candle moving average increased from 1.84k to 3.02k


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