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 consolidation after the price declined to reach the lower band
  • Price volatility was high. The market moved ~5.58%, between $19100k and $18061k

Today’s Trend analysis

  • BTCUSD expected to see a breakout as the price observed lower band support with a gap up expected
  • Price at time of publishing: $18,962
  • BTC’s market cap: $350 Billion
  • Oscillator indicators are mostly neutral. RSI at 62
  • Moving average indicators are indicating an uptrend Ichimoku Cloud is neutral
  • Volume indicators observed an increase in volume with price increase while a decrease in volume was observed with the decline in price

Price expected to see a breakout as the price observed lower band support with a gap up expected. Most of the Oscillator indicators are neutral. MACD line moving below the signal line, with the histogram size decreasing in the negative region suggesting bearish bias. RSI at 62, in the neutral region above the midline. CCI at around 146, in the overbought region indicating a downtrend soon. Another interesting point to notice here is that the volume observed an increase in volume with price increase while a decrease in volume was observed with the decline in price indicating a strong buying pressure.

BTCUSD 4hr price chart via tradingview

Oscillator indicators

Most of the oscillators are neutral. CCI at 182 in the overbought region. RSI with a value of around 62 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
272
NameValueAction
Relative Strength Index (14)62.76Neutral
Stochastic %K (14, 3, 3)73.81Neutral
Commodity Channel Index (20)182.34Neutral
Average Directional Index (14)18.15Neutral
Awesome Oscillator103.84Buy
Momentum (10)366.07Sell
MACD Level (12, 26)147.25Sell
Stochastic RSI Fast (3, 3, 14, 14)59.46Neutral
Williams Percent Range (14)−10.24Neutral
Bull Bear Power520.02Buy
Ultimate Oscillator (7, 14, 28)58.31Neutral

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)18583.36Buy
Simple Moving Average (5)18513.98Buy
Exponential Moving Average (10)18511.12Buy
Simple Moving Average (10)18470.09Buy
Exponential Moving Average (20)18428.92Buy
Simple Moving Average (20)18501.14Buy
Exponential Moving Average (30)18286.75Buy
Simple Moving Average (30)18435Buy
Exponential Moving Average (50)17917.93Buy
Simple Moving Average (50)17994.9Buy
Exponential Moving Average (100)17007.35Buy
Simple Moving Average (100)16853.44Buy
Exponential Moving Average (200)15621.57Buy
Simple Moving Average (200)15278.67Buy
Ichimoku Cloud Base Line (9, 26, 52, 26)18354.5Neutral
Volume Weighted Moving Average (20)18488.43Buy
Hull Moving Average (9)18539.43Buy

Trade volume

In the recent few candles, the volume saw an increase with the price increase while the volume saw a decrease in value as the price declined. The total traded volume is between 1.37k and 5.44k. The 20-candle moving average saw a decline from 2.61k to 2.58k.


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