This is #28 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: $9,100
  • BTC’s market cap: $166 Billion

Trend analysis

BTCUSD is over $9k mark after almost 10 days. Currently we lack a strong trend and 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 at 50-EMA
  • Oscillator‘ indicators are mixed, mostly all neutral, with no clear direction. MACD continues to predict downward momentum

Moving Average Indicators

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)8883.07Buy
Simple Moving Average (5)8810.18Buy
Exponential Moving Average (10)8957.95Buy
Simple Moving Average (10)8818.23Buy
Exponential Moving Average (20)9155.20Sell
Simple Moving Average (20)9307.10Sell
Exponential Moving Average (30)9203.39Sell
Simple Moving Average (30)9550.56Sell
Exponential Moving Average (50)9097.42Buy
Simple Moving Average (50)9300.71Sell
Exponential Moving Average (100)8834.67Buy
Simple Moving Average (100)8380.02Buy
Exponential Moving Average (200)8616.58Buy
Simple Moving Average (200)8715.77Buy
Ichimoku Cloud Base Line (9, 26, 52, 26)9463.61Neutral
Volume Weighted Moving Average (20)9281.98Sell
Hull Moving Average (9)8890.44Buy

Oscillator indicators

Oscillators are mostly neutral, with slight bias towards sell opportunity, but overall 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
182
NameValueAction
Relative Strength Index (14)48.14Neutral
Stochastic %K (14, 3, 3)27.42Neutral
Commodity Channel Index (20)−28.13Neutral
Average Directional Index (14)23.74Neutral
Awesome Oscillator−744.97Neutral
Momentum (10)−565.18Sell
MACD Level (12, 26)−191.58Sell
Stochastic RSI Fast (3, 3, 14, 14)38.82Neutral
Williams Percent Range (14)−57.23Neutral
Bull Bear Power−182.68Buy
Ultimate Oscillator (7, 14, 28)53.65Neutral

Price Action

BTC/USD price movement has mostly been sideways in last couple of day. There was no sudden change in volume yesterday.

BTCUSD price chart via Tradingview

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