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.
- As predicted, BTC price breached support at ~$9,500. 50-dMA was breached too
- Price at time of publishing: $9,125
- BTC’s market cap: $167 Billion
Bitcoin price trend is now pointing down but the same is not supported by momentum, which still remains neutral, hence we can expect the price to move back up to ~$9,500 level in coming days.
- Slight uptrend expected, negating the recent correction
- ‘Moving average‘ indicators are indicating a downtrend, specially the short term ones. 50-dMA was breached
- ‘Oscillator‘ indicators are mostly neutral. MACD continues to predict downward momentum. We are observing a bearish divergence RSI, which leads to correction in a overall bull market
Moving Average Indicators
MAs are signaling a downward movement. Bitcoin price has breached 50dMA mark.
Definition:- Moving Average indicators are lagging indicators which help us catch trends when they are beginning to take effective. Idea is to buy when the trend is moving up and sell when the trend is falling.
|Exponential Moving Average (5)||9454.24||Sell|
|Simple Moving Average (5)||9553.08||Sell|
|Exponential Moving Average (10)||9608.95||Sell|
|Simple Moving Average (10)||9656.93||Sell|
|Exponential Moving Average (20)||9643.93||Sell|
|Simple Moving Average (20)||9870.24||Sell|
|Exponential Moving Average (30)||9527.35||Sell|
|Simple Moving Average (30)||9714.52||Sell|
|Exponential Moving Average (50)||9234.81||Sell|
|Simple Moving Average (50)||9226.00||Sell|
|Exponential Moving Average (100)||8853.69||Buy|
|Simple Moving Average (100)||8278.95||Buy|
|Exponential Moving Average (200)||8607.88||Buy|
|Simple Moving Average (200)||8791.88||Buy|
|Ichimoku Cloud Base Line (9, 26, 52, 26)||9798.54||Neutral|
|Volume Weighted Moving Average (20)||9914.25||Sell|
|Hull Moving Average (9)||9403.73||Sell|
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.
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.
|Relative Strength Index (14)||42.43||Neutral|
|Stochastic %K (14, 3, 3)||12.95||Neutral|
|Commodity Channel Index (20)||−186.93||Neutral|
|Average Directional Index (14)||21.94||Neutral|
|MACD Level (12, 26)||55.85||Sell|
|Stochastic RSI Fast (3, 3, 14, 14)||0.65||Neutral|
|Williams Percent Range (14)||−96.76||Neutral|
|Bull Bear Power||−834.78||Neutral|
|Ultimate Oscillator (7, 14, 28)||47.90||Neutral|
BTC/USD saw a correction to price ~$9,100. The action was gradual with no major spikes in volume.
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