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 slight uptrend
  • Price volatility was high. Market moved ~2.1%, between $9.1k and $9.31k

Today’s Trend analysis

Price expected to move with a upward bias as MACD crosses up 0 . Most of the Oscillator indicators are neutral. MACD crosses up 0, histogram increasing in size, which is a strong bullish sign. RSI above midline around 55, which is a weak bullish sign. CCI crossed above +100, this could lead to a strong trend as CCI attempted to cross +100 a few candles before . Another interesting point to notice here is that price has been in the upper part of bollinger band in this low volatility zone which creates an uptrend bias.

BTCUSD 4hr price chart via tradingview

Oscillator indicators

Most of the oscillators are neutral. CCI went above +100, which is a bullish sign. CCI attempted to cross +100 a few candles back and could lead to a strong trend second time. RSI above midline and around 55.

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
191
NameValueAction
Relative Strength Index (14)55.61Neutral
Stochastic %K (14, 3, 3)64.69Neutral
Commodity Channel Index (20)124.08Neutral
Average Directional Index (14)16.41Neutral
Awesome Oscillator−8.52Neutral
Momentum (10)100.06Sell
MACD Level (12, 26)6.09Buy
Stochastic RSI Fast (3, 3, 14, 14)71.32Neutral
Williams Percent Range (14)−23.03Neutral
Bull Bear Power54.26Neutral
Ultimate Oscillator (7, 14, 28)45.84Neutral

Moving Average Indicators

Moving average (MA) indicator are biased 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
1610
NameValueAction
Exponential Moving Average (5)9275.63Buy
Simple Moving Average (5)9273.09Buy
Exponential Moving Average (10)9263.47Buy
Simple Moving Average (10)9258.70Buy
Exponential Moving Average (20)9257.36Buy
Simple Moving Average (20)9241.30Buy
Exponential Moving Average (30)9253.13Buy
Simple Moving Average (30)9272.77Buy
Exponential Moving Average (50)9242.41Buy
Simple Moving Average (50)9247.81Buy
Exponential Moving Average (100)9242.85Buy
Simple Moving Average (100)9183.72Buy
Exponential Moving Average (200)9257.54Buy
Simple Moving Average (200)9300.60Buy
Ichimoku Cloud Base Line (9, 26, 52, 26)9243.67Neutral
Volume Weighted Moving Average (20)9226.01Buy
Hull Moving Average (9)9291.66Buy

Trade volume

Trades volumes have decreased as 20 candle moving average volume also drops suggesting low volatility. Recent candles saw increasing volume than others when MACD was crossing above 0 indicating an uptrend.


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