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 bounced and then continued downtrend as shown in last analysis.
  • Price volatility was low. Market moved ~1.1%, between $9.05k and $9.1k

Today’s Trend analysis

  • Expected Uptrend as RSI bounces
  • Price at time of publishing: $9,102
  • BTC’s market cap: $167 Billion
  • Oscillator indicators are mostly neutral. RSI at 41
  • Moving average indicators are biased towards downtrend. Ichimoku Cloud is neutral
  • Volume indicators are indicating continuation in downtrend as price increase saw decreasing volume suggesting uptrend is not supported by volumes.

Price expected to continue downtrend as price increase were not supported by volume . Most of the Oscillator indicators are neutral. MACD is negative around -33, increasing histogram is a bearish sign. RSI bounced from 30, still below midline which is a weak bearish sign. CCI rose from oversold region, which is a neutral sign. Another interesting point to notice here is that in 1 hr candle we are seeing breakout after bollinger band squeeze.

BTCUSD 4hr price chart via tradingview

Oscillator indicators

Most of the oscillators are neutral. CCI is negative at -73, in oversold region. RSI bounced from 30, which is a bullish 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
092
NameValueAction
Relative Strength Index (14)41.04Neutral
Stochastic %K (14, 3, 3)34.79Neutral
Commodity Channel Index (20)−73.49Neutral
Average Directional Index (14)27.24Neutral
Awesome Oscillator−92.51Neutral
Momentum (10)−59.12Sell
MACD Level (12, 26)−35.63Sell
Stochastic RSI Fast (3, 3, 14, 14)48.04Neutral
Williams Percent Range (14)−59.36Neutral
Bull Bear Power−71.88Neutral
Ultimate Oscillator (7, 14, 28)51.52Neutral

Moving Average Indicators

Moving average (MA) indicator are biased 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
3113
NameValueAction
Exponential Moving Average (5)9115.85Buy
Simple Moving Average (5)9116.62Buy
Exponential Moving Average (10)9131.02Sell
Simple Moving Average (10)9125.75Sell
Exponential Moving Average (20)9160.83Sell
Simple Moving Average (20)9172.50Sell
Exponential Moving Average (30)9179.89Sell
Simple Moving Average (30)9200.13Sell
Exponential Moving Average (50)9197.93Sell
Simple Moving Average (50)9218.65Sell
Exponential Moving Average (100)9217.87Sell
Simple Moving Average (100)9202.08Sell
Exponential Moving Average (200)9241.18Sell
Simple Moving Average (200)9257.21Sell
Ichimoku Cloud Base Line (9, 26, 52, 26)9188.84Neutral
Volume Weighted Moving Average (20)9162.41Sell
Hull Moving Average (9)9112.60Buy

Trade volume

Recent uptrend saw decreased volumes which suggests that the uptrend was not strong. In 1hr candle, price saw uptrend after bollinger band squeeze which is a bullish sign


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