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 1D candles.

You can find price analysis from previous days on blog here and on Tradingview here.


Analysis Summary

Market in last 1 week

  • BTCUSD saw an uptrend after rejecting from Upper Bollinger Band at $12.13k
  • Price volatility was very high. Market moved ~15.06%, between $12.13k and $10.55k

Today’s Trend analysis

  • BTCUSD expected to see a continued uptrend as higher lows observed in recent candles
  • Price at time of publishing: $11,711
  • BTC’s market cap: $216 Billion
  • Oscillator indicators are mostly neutral. RSI at 69
  • Moving average indicators are biased towards an uptrend. Ichimoku Cloud is neutral
  • Volume indicators indicated increase in volume in recent red candles i.e. when the price was falling indicating a strong selling pressure

Price expected to see a continued uptrend as higher lows have been observed. Most of the Oscillator indicators are neutral. MACD histogram size increasing in the positive region. RSI at 69, close to the overbought region indicating a bullish bias. CCI is around 77, and in neutral region trending down, decreased from 388 to 77. Another interesting point to notice here is that higher lows have been observed with the volume being more than 20-candle moving average in recent candles.

BTCUSD 4hr price chart via tradingview

Oscillator indicators

Most of the oscillators are neutral. CCI is around 77, in the neutral region. RSI close to the overbought region around 69.

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
083
NameValueAction
Relative Strength Index (14)69.16Neutral
Stochastic %K (14, 3, 3)83.57Neutral
Commodity Channel Index (20)77.09Neutral
Average Directional Index (14)40.70Neutral
Awesome Oscillator1458.11Buy
Momentum (10)566.67Buy
MACD Level (12, 26)587.20Buy
Stochastic RSI Fast (3, 3, 14, 14)28.89Neutral
Williams Percent Range (14)−17.28Neutral
Bull Bear Power923.54Neutral
Ultimate Oscillator (7, 14, 28)56.58Neutral

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
1115

MOVING AVERAGES

NameValueAction
Exponential Moving Average (5)11588.61Buy
Simple Moving Average (5)11599.29Buy
Exponential Moving Average (10)11364.16Buy
Simple Moving Average (10)11459.08Buy
Exponential Moving Average (20)10889.72Buy
Simple Moving Average (20)10730.07Buy
Exponential Moving Average (30)10556.90Buy
Simple Moving Average (30)10226.10Buy
Exponential Moving Average (50)10148.37Buy
Simple Moving Average (50)9834.85Buy
Exponential Moving Average (100)9581.19Buy
Simple Moving Average (100)9610.81Buy
Exponential Moving Average (200)9063.29Buy
Simple Moving Average (200)8795.31Buy
Ichimoku Cloud Base Line (9, 26, 52, 26)10563.26Neutral
Volume Weighted Moving Average (20)10876.45Buy
Hull Moving Average (9)11784.96Sell

Trade volume

In the last few red candles there was an increase in volume observed i.e. when the price was falling indicating a strong selling pressure. The volume was lesser than 20-candle moving average in the last few candles. Volume decreased from 28k to 5.4k with the 20-candle average increasing from 13k to 15k.


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