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 downtrend with price riding the lower band
  • Price volatility was very high. The market moved ~8.51%, between $17579k and $16200k

Today’s Trend analysis

  • BTCUSD expected to see a continued downtrend as lower highs were observed with a local resistance observed
  • Price at time of publishing: $16,809.09
  • BTC’s market cap: $311 Billion
  • Oscillator indicators are mostly neutral. RSI at 34
  • Moving average indicators are indicating a downtrend Ichimoku Cloud is neutral
  • Volume indicators observed an increase with the price decline while a decrease in volume was observed with an increase in price

Price expected to see a continued downtrend as lower highs were observed with a local resistance observed. 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 34, in the neutral region below the midline. CCI at around -94, in the neutral region with an up move from oversold. Another interesting point to notice here is that the volume observed an increase with the price decline while a decrease in volume was observed with an increase in price indicating strong selling pressure.

BTCUSD 4hr price chart via tradingview

Oscillator indicators

Most of the oscillators are neutral. CCI at -94 in the neutral region. RSI with a value of around 34 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
191
NameValueAction
Relative Strength Index (14)34.46Neutral
Stochastic %K (14, 3, 3)24.47Neutral
Commodity Channel Index (20)−94.02Neutral
Average Directional Index (14)30.76Neutral
Awesome Oscillator−1287.06Neutral
Momentum (10)−2114.58Buy
MACD Level (12, 26)−431.56Sell
Stochastic RSI Fast (3, 3, 14, 14)26.99Neutral
Williams Percent Range (14)−80.06Neutral
Bull Bear Power−1264.79Neutral
Ultimate Oscillator (7, 14, 28)46.67Neutral

Moving Average Indicators

Moving average (MA) indicators are indicating a downtrend. 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
1412

MOVING AVERAGES

NameValueAction
Exponential Moving Average (5)17049.97Sell
Simple Moving Average (5)16947.84Sell
Exponential Moving Average (10)17359.11Sell
Simple Moving Average (10)17305.55Sell
Exponential Moving Average (20)17785.33Sell
Simple Moving Average (20)18173.85Sell
Exponential Moving Average (30)17947.69Sell
Simple Moving Average (30)18257.37Sell
Exponential Moving Average (50)17921.63Sell
Simple Moving Average (50)18292.42Sell
Exponential Moving Average (100)17313.82Sell
Simple Moving Average (100)17365.12Sell
Exponential Moving Average (200)16024.83Buy
Simple Moving Average (200)15739.16Buy
Ichimoku Cloud Base Line (9, 26, 52, 26)17854Neutral
Volume Weighted Moving Average (20)18000.76Sell
Hull Moving Average (9)16951.72Sell

Trade volume

In the recent few candles, the volume saw an increase with the price decline while a decrease in volume was observed with an increase in price. The total traded volume is between 2.2k and 11.69k. The 20-candle moving average saw an increase from 5.05k to 4.1k.


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