This is #16 of BTC/USD daily price analysis, provided by Mudrex (nocode trading bot). You can find the previous analysis here.

Summary

Market

  • BTC/USD price saw a pullback yesterday to ~$9,450, after which the price movement has been confined in range $9,850-$9,600
  • Price at time of publishing: $9,725
  • BTC’s market cap: $177 Billion

Trend analysis

As yesterday, Bitcoin price remains in correction zone and there is no clear indication where the price is headed. Indicators are representing the indecisiveness in the market and price is expected to continue the choppy behavior as it has shown over the last couple of days.

  • Neutral and choppy
  • Among ‘Moving average‘ indicators, Hull Moving Average (9) has flipped to ‘buy’ side
  • Oscillator‘ indicators are overall neutral, with MACD indicating sell opportunity

Moving Average Indicators

The moving averages are indicating a mixed outlook, with short term ones indicating a sell opportunity and loner term ones indicating a buy opportunity.

BuyNeutralSell
1016
NameValueAction
Exponential Moving Average (5)9873.92Sell
Simple Moving Average (5)9931Sell
Exponential Moving Average (10)9903.54Sell
Simple Moving Average (10)10055.11Sell
Exponential Moving Average (20)9713.49Buy
Simple Moving Average (20)9781.62Sell
Exponential Moving Average (30)9472.66Buy
Simple Moving Average (30)9431.73Buy
Exponential Moving Average (50)9089.84Buy
Simple Moving Average (50)8868.41Buy
Exponential Moving Average (100)8719.01Buy
Simple Moving Average (100)8193.06Buy
Exponential Moving Average (200)8522.32Buy
Simple Moving Average (200)8866.41Buy
Ichimoku Cloud Base Line (9, 26, 52, 26)9371.78Neutral
Volume Weighted Moving Average (20)9869.81Sell
Hull Moving Average (9)9702.63Buy

Oscillator indicators

Oscillators are uncertain about the future price with most indicators pointing a neutral momentum now. Overall, price is expected to continue in the same range for sometime.

BuyNeutralSell
281
NameValueAction
Relative Strength Index (14)54.23Neutral
Stochastic %K (14, 3, 3)48.69Neutral
Commodity Channel Index (20)−9.19Neutral
Average Directional Index (14)33.58Neutral
Awesome Oscillator594.88Neutral
Momentum (10)−172.53Buy
MACD Level (12, 26)311.69Sell
Stochastic RSI Fast (3, 3, 14, 14)2.04Neutral
Williams Percent Range (14)−56.85Neutral
Bull Bear Power−265.01Buy
Ultimate Oscillator (7, 14, 28)53.57Neutral

Price Action

BTC/USD price saw a quick fall to ~$9,450, testing the bulls, but the bulls recovered and the price has been restored back to the range $9,850-$9,600. Overall the volatility has been low in past few days.


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