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.
| Buy | Neutral | Sell |
| 3 | 1 | 13 |
| Name | Value | Action |
|---|---|---|
| Exponential Moving Average (5) | 9013.84 | Sell |
| Simple Moving Average (5) | 9057.53 | Sell |
| Exponential Moving Average (10) | 9285.31 | Sell |
| Simple Moving Average (10) | 9385.14 | Sell |
| Exponential Moving Average (20) | 9456.43 | Sell |
| Simple Moving Average (20) | 9742.52 | Sell |
| Exponential Moving Average (30) | 9411.94 | Sell |
| Simple Moving Average (30) | 9664.39 | Sell |
| Exponential Moving Average (50) | 9185.77 | Sell |
| Simple Moving Average (50) | 9252.26 | Sell |
| Exponential Moving Average (100) | 8843.44 | Sell |
| Simple Moving Average (100) | 8288.70 | Buy |
| Exponential Moving Average (200) | 8607.52 | Buy |
| Simple Moving Average (200) | 8763.21 | Sell |
| Ichimoku Cloud Base Line (9, 26, 52, 26) | 9518.60 | Neutral |
| Volume Weighted Moving Average (20) | 9735.62 | Sell |
| Hull Moving Average (9) | 8619.40 | Buy |
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.
| Buy | Neutral | Sell |
| 2 | 7 | 2 |
| Name | Value | Action |
|---|---|---|
| Relative Strength Index (14) | 37.51 | Neutral |
| Stochastic %K (14, 3, 3) | 11.51 | Neutral |
| Commodity Channel Index (20) | −177.16 | Buy |
| Average Directional Index (14) | 23.94 | Neutral |
| Awesome Oscillator | −417.80 | Sell |
| Momentum (10) | −1467.49 | Buy |
| MACD Level (12, 26) | −92.90 | Sell |
| Stochastic RSI Fast (3, 3, 14, 14) | 0.60 | Neutral |
| Williams Percent Range (14) | −89.32 | Neutral |
| Bull Bear Power | −1187.31 | Neutral |
| Ultimate Oscillator (7, 14, 28) | 43.21 | Neutral |
Price Action
BTC/USD price movement has mostly been sideways with no major change in volume yesterday.
About Mudrex
Mudrex platform helps traders build no-code algo trading bots using Technical analysis based indicators.
Mudrex Marketplace is collection of reviewed and verified funds created by professional traders on Mudrex. Traders create these funds using their trading bots. Individual investors can invest in them for a monthly fee and gain the benefits of passive investing!
Signup today: https://mudrex.com/
