This is #29 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: $9,154
  • BTC’s market cap: $167 Billion

Trend analysis

BTCUSD continues to stay over $9k mark. Nothing much has changed since yesterday, including the price and indicator signals. 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 below 20-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)8965.06Buy
Simple Moving Average (5)8928.09Buy
Exponential Moving Average (10)8988.14Buy
Simple Moving Average (10)8798.88Buy
Exponential Moving Average (20)9151.96Sell
Simple Moving Average (20)9267.83Sell
Exponential Moving Average (30)9198.01Sell
Simple Moving Average (30)9533.99Sell
Exponential Moving Average (50)9098.28Buy
Simple Moving Average (50)9308.77Sell
Exponential Moving Average (100)8840.30Buy
Simple Moving Average (100)8396.00Buy
Exponential Moving Average (200)8621.57Buy
Simple Moving Average (200)8706.76Buy
Ichimoku Cloud Base Line (9, 26, 52, 26)9463.61Neutral
Volume Weighted Moving Average (20)9226.31Sell
Hull Moving Average (9)9036.81Buy

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)49.13Neutral
Stochastic %K (14, 3, 3)36.03Neutral
Commodity Channel Index (20)−16.57Neutral
Average Directional Index (14)22.28Neutral
Awesome Oscillator−631.82Neutral
Momentum (10)−160.14Sell
MACD Level (12, 26)−167.94Sell
Stochastic RSI Fast (3, 3, 14, 14)50.38Neutral
Williams Percent Range (14)−54.10Neutral
Bull Bear Power84.38Buy
Ultimate Oscillator (7, 14, 28)53.16Neutral

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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