This is #19 of BTC/USD daily trend analysis, provided by Mudrex (nocode trading bot). This analysis is based on signals from 28 technical indicators, out of which 17 are moving averages and remaining 11 are oscillators. These indicators values are calculated using 1 day candles.

You can find the previous day’s analysis here.

Summary

Market

  • Despite the $800 fall in BTC/USD price on Wednesday, market’s broader sentiment remains bullish. This is the time to be careful and take informed decisions and not be influenced by emotions
  • Price at time of publishing: $9,670
  • BTC’s market cap: $176 Billion

Trend analysis

Bitcoin price action trend is now neutral, indicating movement in no clear direction in recent past. Price remains confined between $10,500-$9,500 in Feb’20.
Momentum is still weak, with a bias towards buy opportunity. Overall no strong indication where the price is headed.
Indicators continue to represent the indecisiveness in the market and price is expected to continue the choppy behavior as it has shown over the last couple of weeks.


Moving Average Indicators

Overall trend has been become neutral now given the choppy price action this month. Price is currently above all >=30day MAs and below all <= 20 day MAs

BuyNeutralSell
917
NameValueAction
Exponential Moving Average (5)9742.26Sell
Simple Moving Average (5)9749.09Sell
Exponential Moving Average (10)9820.22Sell
Simple Moving Average (10)9955.35Sell
Exponential Moving Average (20)9720.60Sell
Simple Moving Average (20)9836.19Sell
Exponential Moving Average (30)9522.77Buy
Simple Moving Average (30)9541.46Buy
Exponential Moving Average (50)9165.17Buy
Simple Moving Average (50)9028.70Buy
Exponential Moving Average (100)8779.71Buy
Simple Moving Average (100)8223.09Buy
Exponential Moving Average (200)8559.01Buy
Simple Moving Average (200)8844.87Buy
Ichimoku Cloud Base Line (9, 26, 52, 26)9538.62Neutral
Volume Weighted Moving Average (20)9900.11Sell
Hull Moving Average (9)9594.80Buy

Oscillator indicators

Oscillators remain uncertain how the price will move. Though some indicators have switched towards buy side, its hard to draw any conclusion yet.

BuyNeutralSell
371
NameValueAction
Relative Strength Index (14)51.12Neutral
Stochastic %K (14, 3, 3)26.64Neutral
Commodity Channel Index (20)−44.80Neutral
Average Directional Index (14)27.87Buy
Awesome Oscillator325.15Neutral
Momentum (10)−624.43Buy
MACD Level (12, 26)214.39Sell
Stochastic RSI Fast (3, 3, 14, 14)1.39Neutral
Williams Percent Range (14)−71.11Neutral
Bull Bear Power−271.92Buy
Ultimate Oscillator (7, 14, 28)53.02Neutral

Price Action

As predicted yesterday, BTC/USD continues to oscillate in $10,500-$9,500 range with no clear direction. Overall the volatility has been low in Feb’20.


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