This is #25 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.
- As predicted, BTC price moved sideways in last couple of days
- Price at time of publishing: $8,650
- BTC’s market cap: $158 Billion
From the last couple of days, Bitcoin price trend has confirmed a downtrend but the momentum is neutral, indicating indecisiveness where both bulls and bears have got similar hold on the market and there is no clear direction where the price will move in coming days. This is the time to be cautious.
- Neutral / Choppy
- ‘Moving average‘ indicators are indicating a downtrend. Price is still above 100-dMA
- ‘Oscillator‘ indicators are mixed, with no clear direction. MACD continues to predict downward momentum with RSI moving towards the oversold zone
Moving Average Indicators
Price has hardly moved in last couple of days and the MAs are still signaling towards a downward movement (see the last analysis here). Bitcoin price has breached all major dMA levels. Hull MA (9) indicator is signaling a buy opportunity.
Definition:- Moving Average indicators are lagging indicators which help 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)||8715.28||Sell|
|Simple Moving Average (5)||8646.38||Buy|
|Exponential Moving Average (10)||8965.60||Sell|
|Simple Moving Average (10)||9064.21||Sell|
|Exponential Moving Average (20)||9227.25||Sell|
|Simple Moving Average (20)||9512.70||Sell|
|Exponential Moving Average (30)||9259.44||Sell|
|Simple Moving Average (30)||9580.81||Sell|
|Exponential Moving Average (50)||9116.07||Sell|
|Simple Moving Average (50)||9278.54||Sell|
|Exponential Moving Average (100)||8827.42||Sell|
|Simple Moving Average (100)||8323.41||Buy|
|Exponential Moving Average (200)||8606.35||Buy|
|Simple Moving Average (200)||8735.86||Sell|
|Ichimoku Cloud Base Line (9, 26, 52, 26)||9463.61||Neutral|
|Volume Weighted Moving Average (20)||9550.39||Sell|
|Hull Moving Average (9)||8378.62||Buy|
Oscillators are indicating a more ‘confused’ view than ever, clearly 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.
|Relative Strength Index (14)||38.36||Neutral|
|Stochastic %K (14, 3, 3)||8.21||Neutral|
|Commodity Channel Index (20)||−107.50||Buy|
|Average Directional Index (14)||26.20||Neutral|
|MACD Level (12, 26)||−218.13||Sell|
|Stochastic RSI Fast (3, 3, 14, 14)||4.23||Buy|
|Williams Percent Range (14)||−86.65||Buy|
|Bull Bear Power||−974.06||Neutral|
|Ultimate Oscillator (7, 14, 28)||42.05||Neutral|
BTC/USD price movement has mostly been sideways in last couple of day. Also, there are not been a case of sudden change in volume.
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