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 saw a strong uptrend
  • Price volatility was high. Market moved ~2%, between $9.2k and $9.38k

Today’s Trend analysis

Price expected to trend down before a weak uptrend today. Most of the Oscillator indicators are neutral. MACD line had a recent uptrend but MACD histogram is decreasing. RSI and CCI, are trending down and are above their midpoints. CCI crossed down below 100 which is a bearish sign. Another interesting point to notice here is that price has bounced back form upper bollinger and might take support from bollinger mid line. Decreasing volumes suggest downtrend might not last long!

BTCUSD 4hr price chart via tradingview

Oscillator indicators

Most of the oscillators are neutral. CCI crossed down 100 and RSI crossed down 70 and both are bearish signs.

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.

BuyNeutralSell
290
NameValueAction
Relative Strength Index (14)57.74Neutral
Stochastic %K (14, 3, 3)75.29Neutral
Commodity Channel Index (20)63.57Neutral
Average Directional Index (14)19.40Neutral
Awesome Oscillator156.13Neutral
Momentum (10)217.73Buy
MACD Level (12, 26)45.08Buy
Stochastic RSI Fast (3, 3, 14, 14)66.33Neutral
Williams Percent Range (14)−29.38Neutral
Bull Bear Power61.54Neutral
Ultimate Oscillator (7, 14, 28)56.89Neutral

Moving Average Indicators

Moving average (MA) indicator are biased towards 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.

BuyNeutralSell
1115
NameValueAction
Exponential Moving Average (5)9263.85Sell
Simple Moving Average (5)9288.92Sell
Exponential Moving Average (10)9234.46Buy
Simple Moving Average (10)9234.18Buy
Exponential Moving Average (20)9190.51Buy
Simple Moving Average (20)9155.35Buy
Exponential Moving Average (30)9172.47Buy
Simple Moving Average (30)9130.88Buy
Exponential Moving Average (50)9169.64Buy
Simple Moving Average (50)9145.66Buy
Exponential Moving Average (100)9214.98Buy
Simple Moving Average (100)9221.94Buy
Exponential Moving Average (200)9251.35Sell
Simple Moving Average (200)9377.91Sell
Ichimoku Cloud Base Line (9, 26, 52, 26)9145.41Neutral
Volume Weighted Moving Average (20)9190.65Buy
Hull Moving Average (9)9298.20Sell

Trade volume

Trade volume has been decreasing suggesting that the current downtrend is weak. The last candle had less volume than the moving average of last 20 candles.


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