This is #13 of BTC/USD daily price analysis, provided by Mudrex. You can find the previous analysis here.

Summary

Market

  • BTC/USD on a short term down-trend before price starts catching up again. This could be a good point to buy
  • Price at time of publishing: $10133
  • BTC’s market cap: $185 Billion

Trend analysis

As predicted yesterday, price saw minor correction. The correction should continue as some indicators are moving toward ‘sell’ side.

  • Overall Strong bullish trend.
  • Moving average‘ indicators continue pointing up. Price should go up in long run 📈
  • Oscillator‘ indicators are still mixed. Bearish divergence RSI suggests minor corrections should continue

Moving Averages

Most Moving averages are indicating ‘buy’ signal, confirming overall bullish trend.

BuyNeutralSell
1313
NameValueAction
Exponential Moving Average (5)10152.25Sell
Simple Moving Average (5)10173.3Sell
Exponential Moving Average (10)9985.06Buy
Simple Moving Average (10)10014.08Buy
Exponential Moving Average (20)9642.91Buy
Simple Moving Average (20)9614.04Buy
Exponential Moving Average (30)9353.03Buy
Simple Moving Average (30)9288.66Buy
Exponential Moving Average (50)8954.49Buy
Simple Moving Average (50)8661.07Buy
Exponential Moving Average (100)8622.78Buy
Simple Moving Average (100)8156.1Buy
Exponential Moving Average (200)8467.04Buy
Simple Moving Average (200)8871.91Buy
Ichimoku Cloud Base Line (9, 26, 52, 26)9371.78Neutral
Volume Weighted Moving Average (20)9692.05Buy
Hull Moving Average (9)10343.17Sell

Oscillators

Oscillators remain uncertain about the future. Though most are still neutral, some have moved to ‘sell’ side, indicating that we might see some choppiness and correction. Bearish divergence RSI suggests the same.

BuyNeutralSell
182
NameValueAction
Relative Strength Index (14)65.39Neutral
Stochastic %K (14, 3, 3)81.73Sell
Commodity Channel Index (20)87.45Neutral
Average Directional Index (14)43.21Neutral
Awesome Oscillator1022.12Neutral
Momentum (10)971.81Sell
MACD Level (12, 26)451.78Buy
Stochastic RSI Fast (3, 3, 14, 14)57.71Neutral
Williams Percent Range (14)−26.33Neutral
Bull Bear Power645.02Neutral
Ultimate Oscillator (7, 14, 28)58.58Neutral

Price Action

It was a bumpy day for Bitcoin with resistance at $10,100 holding strong. The sharp movements were accompanied by spike in trade volumes. Anything around $10,000 – $9,800 should be a good point to buy.


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