This is #27 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: $8,827
  • BTC’s market cap: $161 Billion

Trend analysis

1D chart has been mostly flat over the last few days. Not much has changed since yesterday. The momentum is neutral, indicating indecisiveness in the market and there is no clear direction where the price will move today or in coming days.

  • Sideways / Choppy today
  • Moving average‘ indicators are indicating a downtrend. Price is now below 100-EMA
  • 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)8792.24Buy
Simple Moving Average (5)8705.86Buy
Exponential Moving Average (10)8936.03Sell
Simple Moving Average (10)8880.14Sell
Exponential Moving Average (20)9166.08Sell
Simple Moving Average (20)9373.40Sell
Exponential Moving Average (30)9213.95Sell
Simple Moving Average (30)9554.57Sell
Exponential Moving Average (50)9099.41Sell
Simple Moving Average (50)9296.05Sell
Exponential Moving Average (100)8830.37Sell
Simple Moving Average (100)8361.18Buy
Exponential Moving Average (200)8612.25Buy
Simple Moving Average (200)8722.13Buy
Ichimoku Cloud Base Line (9, 26, 52, 26)9463.61Neutral
Volume Weighted Moving Average (20)9377.40Sell
Hull Moving Average (9)8743.10Buy

Oscillator indicators

Oscillators are mostly neutral, clearly indicating choppy and sideways price movement today. The range of price movement should be low as mostly all oscillators are neutral.

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)42.32Neutral
Stochastic %K (14, 3, 3)23.10Neutral
Commodity Channel Index (20)−71.76Neutral
Average Directional Index (14)25.00Neutral
Awesome Oscillator−807.70Neutral
Momentum (10)−1166.29Buy
MACD Level (12, 26)−212.13Sell
Stochastic RSI Fast (3, 3, 14, 14)31.01Neutral
Williams Percent Range (14)−75.17Neutral
Bull Bear Power−478.47Neutral
Ultimate Oscillator (7, 14, 28)51.44Neutra

Price Action

BTC/USD price movement has mostly been sideways in last couple of day. There was a small sudden change in volume, which led to a quick jump in price, but bears soon took over and overall nullified the effect.

BTCUSD price chart via Tradingview

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