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 slight uptrend with the price moving in the upper half of the Bollinger band
  • Price volatility was high. The market moved ~6.13%, between $18.421k and $17.356k

Today’s Trend analysis

  • BTCUSD expected to see a sideways movement as the price is moving between the upper band and midline
  • Price at time of publishing: $18,278
  • BTC’s market cap: $339 Billion
  • Oscillator indicators are mostly neutral. RSI at 68
  • Moving average indicators are indicating an uptrend Ichimoku Cloud is neutral
  • Volume indicators observed an increase in volume as the price increased while the volume decreased with a decline in price

Price expected to see a sideways movement as the price is moving between the upper band and midline. Most of the Oscillator indicators are neutral. MACD line approaching the signal line from below, with the histogram size decreasing in the negative region suggesting bearish bias. RSI at 68, in the neutral region above the midline. CCI at around 126, in the overbought region indicating a downtrend. Another interesting point to notice here is that the volume observed an increase in volume as the price increased while the volume decreased with a decline in price indicating a strong buying pressure.

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 68 in the neutral region above the midline.

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
290
NameValueAction
Relative Strength Index (14)68.16Neutral
Stochastic %K (14, 3, 3)78.73Neutral
Commodity Channel Index (20)125.96Neutral
Average Directional Index (14)20.08Neutral
Awesome Oscillator965Neutral
Momentum (10)664.67Sell
MACD Level (12, 26)403.51Sell
Stochastic RSI Fast (3, 3, 14, 14)24.5Neutral
Williams Percent Range (14)−10.43Neutral
Bull Bear Power683.71Neutral
Ultimate Oscillator (7, 14, 28)65.7Neutral

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)18122.5Buy
Simple Moving Average (5)18066.06Buy
Exponential Moving Average (10)17987.66Buy
Simple Moving Average (10)17955.3Buy
Exponential Moving Average (20)17700.8Buy
Simple Moving Average (20)17801.23Buy
Exponential Moving Average (30)17423.22Buy
Simple Moving Average (30)17300.03Buy
Exponential Moving Average (50)16960.76Buy
Simple Moving Average (50)16821.88Buy
Exponential Moving Average (100)16076.15Buy
Simple Moving Average (100)15974.63Buy
Exponential Moving Average (200)14834.56Buy
Simple Moving Average (200)14484.03Buy
Ichimoku Cloud Base Line (9, 26, 52, 26)17237.48Neutral
Volume Weighted Moving Average (20)17855.91Buy
Hull Moving Average (9)18190.62Buy

Trade volume

In the recent few candles, the volume saw an increase with price increase while the volume decreased with a decline in price. The total traded volume was between 3.5k and 1.69k. The 20-candle moving average saw an increase from 3.91k to 3.95k.


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