This #11 of daily price analysis on BTCUSD price provided by Mudrex. You can find the previous analysis here.

Summary

Market

  • BTC/USD
  • Price at time of publishing: $10330
  • BTC’s market cap: $187 Billion

Trend analysis

Shorts got denied yesterday around the strong support built at $9.7k. BTC is back in the +10k range. All MAs are up showing a strong upward movement. Apart from some minor correction, the upward move should continue. The only sign of concern is that the upswing was concentrated on 1 large 1hour candle.

  • Overall Strong bullish trend.
  • Moving averages are unanimously pointing up. Price should only move up now 📈
  • Oscillators are mixed.
  • It looks like the large order triggered the upswing. Having said that, growth is strong and overall up move should continue

Moving Averages

All Moving averages are up. There could not be a stronger signal of upmove.

BuyNeutralSell
1610
NameValueAction
Exponential Moving Average (5)10108.2Buy
Simple Moving Average (5)10108.12Buy
Exponential Moving Average (10)9881.33Buy
Simple Moving Average (10)9817.95Buy
Exponential Moving Average (20)9519.65Buy
Simple Moving Average (20)9431.45Buy
Exponential Moving Average (30)9232.1Buy
Simple Moving Average (30)9196.44Buy
Exponential Moving Average (50)8850.6Buy
Simple Moving Average (50)8540.7Buy
Exponential Moving Average (100)8558.31Buy
Simple Moving Average (100)8138.71Buy
Exponential Moving Average (200)8431.97Buy
Simple Moving Average (200)8865.02Buy
Ichimoku Cloud Base Line (9, 26, 52, 26)9308.65Neutral
Volume Weighted Moving Average (20)9503.46Buy
Hull Moving Average (9)10288.76Buy

Oscillators

Oscillators are uncertain about the future. Most are neutral. However some have moved from sell to neutral indicating that we might still see some choppiness and correction.

BuyNeutralSell
263
NameValueAction
Relative Strength Index (14)71.11Sell
Stochastic %K (14, 3, 3)86.71Neutral
Commodity Channel Index (20)137.77Sell
Average Directional Index (14)43.77Neutral
Awesome Oscillator1008.85Buy
Momentum (10)1009.11Sell
MACD Level (12, 26)462.43Buy
Stochastic RSI Fast (3, 3, 14, 14)61.57Neutral
Williams Percent Range (14)−4.64Neutral
Bull Bear Power1104.12Neutral
Ultimate Oscillator (7, 14, 28)66.9Neutral

Price Action

Most of the growth came in in a singe 1 hour candle. Apart form that markets were as choppy as expected. Looks like a series of large orders lead to the upswing.

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