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 crossing above and coming back to midline
  • Price volatility was very high. The market moved ~3.89%, between $19,625k and $18,889k

Today’s Trend analysis

  • BTCUSD expected to see a downtrend as the price observed a local resistance with a potential double top pattern
  • Price at time of publishing: $18,990
  • BTC’s market cap: $353 Billion
  • Oscillator indicators are mostly neutral. RSI at 50
  • Moving average indicators are indicating a downtrend Ichimoku Cloud is neutral
  • Volume indicators observed an increase with an increase in price while observed a decrease in volume as the price decline

Price expected to see a downtrend as the price observed a local resistance with a potential double top pattern. Most of the Oscillator indicators are neutral. MACD line crossed below the signal line, with the histogram size increasing in the negative region suggesting bearish bias. RSI at 50, in the neutral region, close to the midline. CCI at around -64, in the neutral region with a down move. Another interesting point to notice here is that the volume observed an increase with an increase in price while observed a decrease in volume as the price decline indicating a strong buying pressure.

BTCUSD 4hr price chart via tradingview

Oscillator indicators

Most of the oscillators are neutral. CCI at -64 in the neutral region. RSI with a value of around 50 in the neutral region close to 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)50.01Neutral
Stochastic %K (14, 3, 3)64.77Neutral
Commodity Channel Index (20)−64.73Neutral
Average Directional Index (14)11.25Neutral
Awesome Oscillator461.46Neutral
Momentum (10)−108.12Buy
MACD Level (12, 26)192.77Sell
Stochastic RSI Fast (3, 3, 14, 14)25.41Neutral
Williams Percent Range (14)−47.28Neutral
Bull Bear Power−55.77Neutral
Ultimate Oscillator (7, 14, 28)54.43Neutral

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
917

MOVING AVERAGES

NameValueAction
Exponential Moving Average (5)19216.98Sell
Simple Moving Average (5)19278.33Sell
Exponential Moving Average (10)19232.9Sell
Simple Moving Average (10)19288.77Sell
Exponential Moving Average (20)19119.68Sell
Simple Moving Average (20)19195.45Sell
Exponential Moving Average (30)18967.45Buy
Simple Moving Average (30)19061.53Sell
Exponential Moving Average (50)18712.01Buy
Simple Moving Average (50)18333.9Buy
Exponential Moving Average (100)18130.22Buy
Simple Moving Average (100)18383.1Buy
Exponential Moving Average (200)16931.26Buy
Simple Moving Average (200)16834.03Buy
Ichimoku Cloud Base Line (9, 26, 52, 26)19009.01Neutral
Volume Weighted Moving Average (20)19226.21Sell
Hull Moving Average (9)19190.96Sell

Trade volume

In the recent few candles, the volume observed an increase with an increase in price while observed a decrease in volume as the price declined. The total traded volume is between 2.98k and 1.80k, below the 20-candle moving average which saw a decrease from 3.83k to 3.21k.


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