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 sideways movement with the price riding the midline band
  • Price volatility was very high. The market moved ~6.79%, between $19,340k and $18,109k

Today’s Trend analysis

  • BTCUSD expected to see a downtrend as the price observed a midline retracement with local resistance and Bollinger band squeeze taking place
  • Price at time of publishing: $19,018.01
  • BTC’s market cap: $352 Billion
  • Oscillator indicators are mostly neutral. RSI at 55
  • Moving average indicators are indicating an uptrend Ichimoku Cloud is neutral
  • Volume indicators observed a change from decreasing with a decline in price to an increase in volume as the price decrease

Price expected to see a continued uptrend as price observed higher lows with Bollinger band moving upward. 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 66, in the neutral region above the midline. CCI at around 94, in the neutral region with a down move. Another interesting point to notice here is that the volume observed a change from decreasing with a decline in price to an increase in volume as the price decrease indicating a shift from buyers to sellers.

BTCUSD 4hr price chart via tradingview

Oscillator indicators

Most of the oscillators are neutral. CCI at 8 in the neutral region. RSI with a value of around 55 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
281
NameValueAction
Relative Strength Index (14)55.32Neutral
Stochastic %K (14, 3, 3)50.32Neutral
Commodity Channel Index (20)8.48Neutral
Average Directional Index (14)17.93Neutral
Awesome Oscillator699.25Neutral
Momentum (10)−447.75Sell
MACD Level (12, 26)258.83Sell
Stochastic RSI Fast (3, 3, 14, 14)21.95Neutral
Williams Percent Range (14)−50.97Neutral
Bull Bear Power1.03Buy
Ultimate Oscillator (7, 14, 28)56.46Neutral

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
5111

MOVING AVERAGES

NameValueAction
Exponential Moving Average (5)18997.39Sell
Simple Moving Average (5)18956.4Buy
Exponential Moving Average (10)19002.23Sell
Simple Moving Average (10)19089.19Sell
Exponential Moving Average (20)18829.82Buy
Simple Moving Average (20)18941.45Buy
Exponential Moving Average (30)18658.41Buy
Simple Moving Average (30)18469.43Buy
Exponential Moving Average (50)18424.22Buy
Simple Moving Average (50)18266.33Buy
Exponential Moving Average (100)17871.32Buy
Simple Moving Average (100)18131.74Buy
Exponential Moving Average (200)16682.06Buy
Simple Moving Average (200)16553.4Buy
Ichimoku Cloud Base Line (9, 26, 52, 26)18498.15Neutral
Volume Weighted Moving Average (20)19099.64Sell
Hull Moving Average (9)18996.18Sell

Trade volume

In the recent few candles, the volume observed a change from decreasing with a decline in price to an increase in volume as the price decrease. The total traded volume is between 2.05k and 11.92k. The 20-candle moving average saw an increase from 3.47k to 3.82k.


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