This is #24 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 indicator values are calculated using 1 day candles.

You can find price analysis from previous days here.

Summary

Market

  • BTC price moved down slightly compared to yesterday, below 200dMA
  • Price at time of publishing: $8,490
  • BTC’s market cap: $155 Billion

Trend analysis

Bitcoin price trend has now confirmed a downtrend but the momentum is neutral, indicating indecisiveness in the market and there is no clear direction where the price will move in coming days. This is the time of caution.

  • Neutral / Choppy
  • Moving average‘ indicators are indicating a downtrend. 200-dMA was breached. Price currently above 100-dMA
  • Oscillator‘ indicators are mostly neutral. MACD continues to predict downward momentum with RSI moving towards the oversold zone

Moving Average Indicators

MAs are signaling a downward movement. Bitcoin price has breached all major dMA levels.

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.

BuyNeutralSell
3113
NameValueAction
Exponential Moving Average (5)9013.84Sell
Simple Moving Average (5)9057.53Sell
Exponential Moving Average (10)9285.31Sell
Simple Moving Average (10)9385.14Sell
Exponential Moving Average (20)9456.43Sell
Simple Moving Average (20)9742.52Sell
Exponential Moving Average (30)9411.94Sell
Simple Moving Average (30)9664.39Sell
Exponential Moving Average (50)9185.77Sell
Simple Moving Average (50)9252.26Sell
Exponential Moving Average (100)8843.44Sell
Simple Moving Average (100)8288.70Buy
Exponential Moving Average (200)8607.52Buy
Simple Moving Average (200)8763.21Sell
Ichimoku Cloud Base Line (9, 26, 52, 26)9518.60Neutral
Volume Weighted Moving Average (20)9735.62Sell
Hull Moving Average (9)8619.40Buy

Oscillator indicators

Many oscillators continue to indicate a neutral momentum, indicating choppy and sideways price movement.

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.

BuyNeutralSell
272
NameValueAction
Relative Strength Index (14)37.51Neutral
Stochastic %K (14, 3, 3)11.51Neutral
Commodity Channel Index (20)−177.16Buy
Average Directional Index (14)23.94Neutral
Awesome Oscillator−417.80Sell
Momentum (10)−1467.49Buy
MACD Level (12, 26)−92.90Sell
Stochastic RSI Fast (3, 3, 14, 14)0.60Neutral
Williams Percent Range (14)−89.32Neutral
Bull Bear Power−1187.31Neutral
Ultimate Oscillator (7, 14, 28)43.21Neutral

Price Action

BTC/USD price movement has mostly been sideways with no major change in volume yesterday.

Downtrend expected to continue

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