This is #20 of BTC/USD daily trend 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 remaining 11 are oscillators. These indicators values are calculated using 1 day candles.

You can find the analysis from previous days here.

Summary

Market

  • As predicted, price is not moving in any particular direction yet
  • After several failed attempts to breach the crucial 5 digit resistance mark, bitcoin price continues to move sideways with both bear and bulls showing equal forces
  • Price at time of publishing: $9,755
  • BTC’s market cap: $178 Billion

Trend analysis

Bitcoin price movement is not showing any hints yet. The market is expected to continue the choppy behavior as it has shown over the last couple of weeks.

  • Choppy / Sideways
  • Moving average‘ indicators continue pointing up, specially the long term ones, hence price should go up in long run 📈
  • Oscillator‘ indicators are mixed. MACD continues to predict downward momentum

Moving Average Indicators

MAs are shifting towards ‘buy’ signal, indicating the slight uptrend we have seen in last couple of months. Short terms MA’s are mixed, given the recent market movement has mostly been sideways.

BuyNeutralSell
1016
NameValueAction
Exponential Moving Average (5)9797.11Sell
Simple Moving Average (5)9745.78Buy
Exponential Moving Average (10)9821.29Sell
Simple Moving Average (10)9805.64Sell
Exponential Moving Average (20)9747.32Buy
Simple Moving Average (20)9921.55Sell
Exponential Moving Average (30)9577.38Buy
Simple Moving Average (30)9685.70Buy
Exponential Moving Average (50)9239.70Buy
Simple Moving Average (50)9177.42Buy
Exponential Moving Average (100)8840.55Buy
Simple Moving Average (100)8262.19Buy
Exponential Moving Average (200)8596.41Buy
Simple Moving Average (200)8815.84Buy
Ichimoku Cloud Base Line (9, 26, 52, 26)9798.54Neutral
Volume Weighted Moving Average (20)9955.07Sell
Hull Moving Average (9)9776.85Sell

Oscillator indicators

Most of the oscillators indicate a neutral momentum, i.e. no indication where the price will head. Choppy and sideways movement is expected to continue.

BuyNeutralSell
191
NameValueAction
Relative Strength Index (14)52.42Neutral
Stochastic %K (14, 3, 3)41.94Neutral
Commodity Channel Index (20)−49.68Neutral
Average Directional Index (14)24.46Neutral
Awesome Oscillator199.25Neutral
Momentum (10)−610.30Buy
MACD Level (12, 26)170.75Sell
Stochastic RSI Fast (3, 3, 14, 14)15.01Neutral
Williams Percent Range (14)−61.54Neutral
Bull Bear Power−21.70Neutral
Ultimate Oscillator (7, 14, 28)57.69Neutral

Price Action

BTC/USD continues to oscillate in $10,500-$9,500 range with no clear direction. Indecisiveness in the market continues and the volatility has been low in Feb’20.


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