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 got rejected from 11.2k, saw a downmove in recent candle
  • Price volatility was high. Market moved ~4.41%, between $11.3k and $10.86k

Today’s Trend analysis

  • BTCUSD expected to see an uptrend
  • Price at time of publishing: $10,908
  • BTC’s market cap: $202 Billion
  • Oscillator indicators are mostly neutral. RSI at 60
  • Moving average indicators are biased towards uptrend. Ichimoku Cloud is neutral
  • Volume indicators are indicating a low volatility ahead. Recent red candles saw low volumes indicating weak selling pressure.

Price expected to see an uptrend after bouncing from midline Bollinger Band Most of the Oscillator indicators are neutral. MACD histogram is negative, size increasing in the downward direction and has crossed zero, indicating a bearish sign. RSI at 60, trending downwards, still above midline indicating bearish signal. CCI is around 3, and still in neutral region about to cross down zero signaling a downward momentum. Another interesting point to notice here is that the recent red candles saw decreasing volumes indicating weak selling pressure.

BTCUSD 4hr price chart via tradingview

Oscillator indicators

Most of the oscillators are neutral. CCI is around 3, in neutral region. RSI above midline around 60 trending down, which is a bearish 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.

SellNeutralBuy
281
NameValueAction
Relative Strength Index (14)60.26Neutral
Stochastic %K (14, 3, 3)46.17Neutral
Commodity Channel Index (20)3.48Neutral
Average Directional Index (14)62.74Neutral
Awesome Oscillator652.27Neutral
Momentum (10)−95.24Sell
MACD Level (12, 26)268.39Sell
Stochastic RSI Fast (3, 3, 14, 14)0.00Neutral
Williams Percent Range (14)−57.54Neutral
Bull Bear Power29.37Buy
Ultimate Oscillator (7, 14, 28)45.65Neutral

Moving Average Indicators

Moving average (MA) indicators 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.

SellNeutralBuy
5111

MOVING AVERAGES

NameValueAction
Exponential Moving Average (5)10992.55Sell
Simple Moving Average (5)11034.71Sell
Exponential Moving Average (10)10988.74Sell
Simple Moving Average (10)11039.49Sell
Exponential Moving Average (20)10816.39Buy
Simple Moving Average (20)10901.72Buy
Exponential Moving Average (30)10619.72Buy
Simple Moving Average (30)10548.92Buy
Exponential Moving Average (50)10314.12Buy
Simple Moving Average (50)10134.89Buy
Exponential Moving Average (100)9911.60Buy
Simple Moving Average (100)9663.61Buy
Exponential Moving Average (200)9623.87Buy
Simple Moving Average (200)9424.74Buy
Ichimoku Cloud Base Line (9, 26, 52, 26)10543.11Neutral
Volume Weighted Moving Average (20)10862.90Buy
Hull Moving Average (9)10951.26Sell

Trade volume

In recent red candles, the volume was decreasing constantly from 3.38 to 1.09, which is still less than 20 moving average which has also increased from the last few candles from 4.41 to 4.58.


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