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 resistance from the upper band followed by a downtrend with the price reaching the lower band
  • Price volatility was very high. The market moved ~20.37%, between $19500k and $16200k

Today’s Trend analysis

  • BTCUSD expected to see a continued downtrend as gap down is expected with Bollinger band expansion
  • Price at time of publishing: $17,167.01
  • BTC’s market cap: $318 Billion
  • Oscillator indicators are mostly neutral. RSI at 32
  • Moving average indicators are indicating a downtrend Ichimoku Cloud is neutral
  • Volume indicators observed an increase in volume with a decline in price

Price expected to see a continued downtrend as gap down is expected with Bollinger band expansion. Most of the Oscillator indicators are neutral. MACD line moving below the signal line, with the histogram size increasing in the negative region suggesting bearish bias. RSI at 32, in the neutral region below the midline. CCI at around -174, in the oversold region indicating an uptrend soon. Another interesting point to notice here is that the volume observed an increase in volume with a decline in price indicating strong selling pressure.

BTCUSD 4hr price chart via tradingview

Oscillator indicators

Most of the oscillators are neutral. CCI at -174 in the oversold region. RSI with a value of around 32 in the neutral region below 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
362
NameValueAction
Relative Strength Index (14)32.07Neutral
Stochastic %K (14, 3, 3)22.88Neutral
Commodity Channel Index (20)−174.34Buy
Average Directional Index (14)22.17Neutral
Awesome Oscillator−785.34Sell
Momentum (10)−1976.88Sell
MACD Level (12, 26)−190.03Sell
Stochastic RSI Fast (3, 3, 14, 14)1.18Buy
Williams Percent Range (14)−72.69Neutral
Bull Bear Power−2288.72Neutral
Ultimate Oscillator (7, 14, 28)48.99Neutral

Moving Average Indicators

Moving average (MA) indicators are indicating a downtrend. 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
1313

MOVING AVERAGES

NameValueAction
Exponential Moving Average (5)17657.48Sell
Simple Moving Average (5)17718.61Sell
Exponential Moving Average (10)18088.11Sell
Simple Moving Average (10)18384.56Sell
Exponential Moving Average (20)18348.51Sell
Simple Moving Average (20)18554.45Sell
Exponential Moving Average (30)18358.25Sell
Simple Moving Average (30)18521.28Sell
Exponential Moving Average (50)18147.06Sell
Simple Moving Average (50)18394.35Sell
Exponential Moving Average (100)17357.53Sell
Simple Moving Average (100)17285.15Sell
Exponential Moving Average (200)15980.19Buy
Simple Moving Average (200)15645.26Buy
Ichimoku Cloud Base Line (9, 26, 52, 26)17903.77Neutral
Volume Weighted Moving Average (20)18376.44Sell
Hull Moving Average (9)16954.1Buy

Trade volume

In the recent few candles, the volume saw an increase with the price decline making the total traded volume is between 3.95k and 11.69k. The 20-candle moving average saw an increase from 3.24k to 4.35k.


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