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 price continued sideways movement
  • Price volatility was low. Market moved ~1.5%, between $9.07k and $9.19k

Today’s Trend analysis

Price expected to trend up today. Most of the Oscillator indicators are neutral with a bias towards positive momentum. MACD line is trending up and is about to crossed up 0 and MACD histogram is in positive zone. RSI and CCI, are trending up and are above their midpoints. On balance volume indicator too 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 with a bias towards buy side. CCI is trending up and close to 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
380
NameValueAction
Relative Strength Index (14)50.18Neutral
Stochastic %K (14, 3, 3)55.47Neutral
Commodity Channel Index (20)53.51Neutral
Average Directional Index (14)22.60Neutral
Awesome Oscillator19.65Buy
Momentum (10)−1.98Buy
MACD Level (12, 26)−8.47Buy
Stochastic RSI Fast (3, 3, 14, 14)51.63Neutral
Williams Percent Range (14)−40.47Neutral
Bull Bear Power51.24Neutral
Ultimate Oscillator (7, 14, 28)54.45Neutral

Moving Average Indicators

Moving average (MA) indicator are mixed with short term MAs pointing towards and uptrend and long-term MAs pointing towards a downtrend. 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
818
NameValueAction
Exponential Moving Average (5)9141.94Buy
Simple Moving Average (5)9138.12Buy
Exponential Moving Average (10)9139.13Buy
Simple Moving Average (10)9149.38Sell
Exponential Moving Average (20)9138.32Buy
Simple Moving Average (20)9123.34Buy
Exponential Moving Average (30)9153.31Sell
Simple Moving Average (30)9115.02Buy
Exponential Moving Average (50)9195.84Sell
Simple Moving Average (50)9215.09Sell
Exponential Moving Average (100)9279.51Sell
Simple Moving Average (100)9301.58Sell
Exponential Moving Average (200)9294.92Sell
Simple Moving Average (200)9458.26Sell
Ichimoku Cloud Base Line (9, 26, 52, 26)9035.50Neutral
Volume Weighted Moving Average (20)9121.78Buy
Hull Moving Average (9)9133.85Buy

Trade volume

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


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