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 sideways movement
  • Price volatility was low. Market moved ~1.8%, between $9.1k and $9.27k

Today’s Trend analysis

  • Sideways movement expected, RSI remains neutral
  • Price at time of publishing: $9,235
  • BTC’s market cap: $170 Billion
  • Oscillator indicators are mostly neutral. RSI at 48
  • Moving average indicators are biased towards downtrend. Ichimoku Cloud is neutral
  • Volume indicators are indicating a sideways movement as volume profile suggests equal buy and sell volumes at current price level

Price expected to move sideways as indicators are neutral and volume profile suggests almost equal buying & selling pressure . Most of the Oscillator indicators are neutral. MACD below 0, chances of crossing up, which is a bullish sign. RSI near midline around 48, which is a neutral sign. CCI is negative -34 , indicating a sideways movement. Another interesting point to notice here is that if price jumped from the lower bollinger band indicating buying pressure there

BTCUSD 4hr price chart via tradingview

Oscillator indicators

Most of the oscillators are neutral. CCI is negative around -34 near 0 , which is a neutral sign. RSI around midline at 48, which is also a neutral sign.

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
173
NameValueAction
Relative Strength Index (14)48.38Neutral
Stochastic %K (14, 3, 3)52.92Neutral
Commodity Channel Index (20)−34.03Neutral
Average Directional Index (14)13.59Neutral
Awesome Oscillator3.19Buy
Momentum (10)−0.54Sell
MACD Level (12, 26)−4.86Sell
Stochastic RSI Fast (3, 3, 14, 14)45.63Neutral
Williams Percent Range (14)−46.76Neutral
Bull Bear Power−43.55Sell
Ultimate Oscillator (7, 14, 28)61.41Neutral

Moving Average Indicators

Moving average (MA) indicator are biased towards a downtrend. 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
2114
NameValueAction
Exponential Moving Average (5)9234.09Sell
Simple Moving Average (5)9242.71Sell
Exponential Moving Average (10)9236.47Sell
Simple Moving Average (10)9228.67Buy
Exponential Moving Average (20)9240.91Sell
Simple Moving Average (20)9244.57Sell
Exponential Moving Average (30)9242.57Sell
Simple Moving Average (30)9244.52Sell
Exponential Moving Average (50)9239.26Sell
Simple Moving Average (50)9264.08Sell
Exponential Moving Average (100)9241.03Sell
Simple Moving Average (100)9201.89Buy
Exponential Moving Average (200)9254.92Sell
Simple Moving Average (200)9275.28Sell
Ichimoku Cloud Base Line (9, 26, 52, 26)9223.08Neutral
Volume Weighted Moving Average (20)9240.98Sell
Hull Moving Average (9)9239.24Sell

Trade volume

Trades volumes have been below 20 candle average volume, suggesting a neutral outlook. Volume profile shows 6.2k buy volume and 6.5k sell volume at the current price level, which are almost same indicating a sideways movement.


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