This is #26 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

  • As predicted, BTC price moved sideways yesterday
  • Price at time of publishing: $8,850
  • BTC’s market cap: $161 Billion

Trend analysis

1D chart has been mostly flat over the last few days. Price is still below most >10 days & <90 days MAs. The momentum is neutral, indicating indecisiveness in the market and there is no clear direction where the price will move today or coming days.

  • Neutral / Choppy today
  • Moving average‘ indicators are indicating a downtrend. Price is now above 200-dMA
  • Oscillator‘ indicators are mixed, mostly all neutral, with no clear direction. MACD continues to predict downward momentum

Moving Average Indicators

Price has been confined in $8,950 – $8,450 range over last couple of days. The MAs are still biased towards a sell signal. 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.

BuyNeutralSell
6110
NameValueAction
Exponential Moving Average (5)8803.87Buy
Simple Moving Average (5)8697.23Buy
Exponential Moving Average (10)8975.27Sell
Simple Moving Average (10)9003.06Sell
Exponential Moving Average (20)9209.45Sell
Simple Moving Average (20)9448.27Sell
Exponential Moving Average (30)9245.80Sell
Simple Moving Average (30)9572.25Sell
Exponential Moving Average (50)9113.65Sell
Simple Moving Average (50)9297.63Sell
Exponential Moving Average (100)8832.01Sell
Simple Moving Average (100)8344.92Buy
Exponential Moving Average (200)8610.88Buy
Simple Moving Average (200)8729.38Buy
Ichimoku Cloud Base Line (9, 26, 52, 26)9463.61Neutral
Volume Weighted Moving Average (20)9471.61Sell
Hull Moving Average (9)8618.56Buy

Oscillator indicators

Oscillators are mostly neutral, clearly indicating choppy and sideways price movement today.

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
191
NameValueAction
Relative Strength Index (14)41.97Neutral
Stochastic %K (14, 3, 3)18.00Neutral
Commodity Channel Index (20)−81.23Neutral
Average Directional Index (14)25.14Neutral
Awesome Oscillator−843.35Neutral
Momentum (10)−860.83Buy
MACD Level (12, 26)−204.99Sell
Stochastic RSI Fast (3, 3, 14, 14)21.34Neutral
Williams Percent Range (14)−78.69Neutral
Bull Bear Power−484.28Neutral
Ultimate Oscillator (7, 14, 28)46.33Neutral

Price Action

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.

Downtrend expected to continue

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