This is #21 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 price analysis from previous days here.

Summary

Market

  • As predicted, price is not moving in any particular direction yet
  • BTC has held support at ~$9,500. We might see a breach soon
  • Price at time of publishing: $9,530
  • BTC’s market cap: $175 Billion

Trend analysis

Bitcoin price movement is still not showing strong hints whether the price will move up or down. The market is expected to continue the choppy behavior as it has shown over the last couple of weeks.

  • Choppy / Sideways
  • Moving average‘ indicators have shifted bias towards ‘sell’ side, specially the short term ones. Overall the no strong indication
  • Oscillator‘ indicators are mostly neutral. MACD continues to predict downward momentum

Moving Average Indicators

MAs are shifting towards ‘sell’ signal, effected by the slight downtrend we have seen in last couple of days.

BuyNeutralSell
6110
NameValueAction
Exponential Moving Average (5)9697.29Sell
Simple Moving Average (5)9716.85Sell
Exponential Moving Average (10)9759.79Sell
Simple Moving Average (10)9761.85Sell
Exponential Moving Average (20)9721.35Sell
Simple Moving Average (20)9914.08Sell
Exponential Moving Average (30)9570.56Sell
Simple Moving Average (30)9715.09Sell
Exponential Moving Average (50)9248.70Buy
Simple Moving Average (50)9211.48Buy
Exponential Moving Average (100)8852.96Buy
Simple Moving Average (100)8271.84Buy
Exponential Moving Average (200)8605.07Buy
Simple Moving Average (200)8803.88Buy
Ichimoku Cloud Base Line (9, 26, 52, 26)9798.54Neutral
Volume Weighted Moving Average (20)9961.97Sell
Hull Moving Average (9)9722.10Sell

Oscillator indicators

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

BuyNeutralSell
182
NameValueAction
Relative Strength Index (14)48.91Neutral
Stochastic %K (14, 3, 3)36.23Neutral
Commodity Channel Index (20)−106.91Neutral
Average Directional Index (14)22.82Neutral
Awesome Oscillator172.09Neutral
Momentum (10)−341.28Sell
MACD Level (12, 26)131.53Sell
Stochastic RSI Fast (3, 3, 14, 14)10.62Neutral
Williams Percent Range (14)−77.88Neutral
Bull Bear Power−369.55Buy
Ultimate Oscillator (7, 14, 28)50.04Neutral

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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