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

  • As predicted in the previous analysis, BTCUSD price moved up
  • Price volatility was low. Market moved ~2%, between $9.27k and $9.44k

Today’s Trend analysis

Price expected to trend up today. Most of the Oscillator indicators are neutral. MACD line is trending up and has crossed up 0. MACD histogram is in positive zone. RSI is trending almost flat, moving slightly above its midpoint 50. CCI, the more reactive oscillator, has crossed up 100, indicating the bulls are have gained strength. Another interesting point to notice is that on balance volume indicator, which is a leading indicator, is trending up. All factors indicating that bulls are getting stronger. Overall, price is expected to move up today.

BTCUSD 4hr price chart via tradingview

Oscillator indicators

Most of the oscillators are neutral. CCI is trending up and crossed up 100.

Definition:- Oscillator indicators are based on 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. RSI is above 50 and MACD is pointing towards a buy opportunity.

BuyNeutralSell
272
NameValueAction
Relative Strength Index (14)55.13Neutral
Stochastic %K (14, 3, 3)87.81Neutral
Commodity Channel Index (20)134.15Sell
Average Directional Index (14)30.61Neutral
Awesome Oscillator−5.79Neutral
Momentum (10)126.38Buy
MACD Level (12, 26)0.22Buy
Stochastic RSI Fast (3, 3, 14, 14)99.97Neutral
Williams Percent Range (14)−12.02Sell
Bull Bear Power133.10Neutral
Ultimate Oscillator (7, 14, 28)59.31Neutral

Moving Average Indicators

Moving average (MA) indicator are pointing towards 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.

BuyNeutralSell
1313
NameValueAction
Exponential Moving Average (5)9385.12Buy
Simple Moving Average (5)9366.95Buy
Exponential Moving Average (10)9366.19Buy
Simple Moving Average (10)9364.83Buy
Exponential Moving Average (20)9359.11Buy
Simple Moving Average (20)9338.68Buy
Exponential Moving Average (30)9366.03Buy
Simple Moving Average (30)9353.37Buy
Exponential Moving Average (50)9391.51Buy
Simple Moving Average (50)9371.77Buy
Exponential Moving Average (100)9431.88Sell
Simple Moving Average (100)9496.23Sell
Exponential Moving Average (200)9347.59Buy
Simple Moving Average (200)9432.00Sell
Ichimoku Cloud Base Line (9, 26, 52, 26)9308.34Neutral
Volume Weighted Moving Average (20)9338.78Buy
Hull Moving Average (9)9392.62Buy

Trade volume

Trade volume on red candles has been lower than average since last 2 days, indicating that selling pressure is low.


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