This is #30 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 the remaining 11 are oscillators. These indicator values are calculated using 1 day candles.
You can find price analysis from previous days here.
Summary
Market
- Markets saw a huge fall yesterday with the price hitting major support at 7900
- Price at time of publishing: $7942
- BTC’s market cap: $153 Billion
Trend analysis
BTCUSD saw a sharp drop from ~8.7K mark to 7900 stabilizing around that support value. 7900 has been a major support for some time. How price moves in the next couple of days will determine the general upcoming trend. For now, we will see choppiness.
- Price should stabilize again at the current range.
- ‘Moving average‘ indicators are indicating a downtrend. The price is below 20-EMA. We might see this continue to drop a bit more.
- ‘Oscillator‘ indicators are mixed, mostly all neutral, with a few pointing to sell
Moving Average Indicators
The MAs are still biased towards a market drop. Everything except the Ichimoku cloud is pointing towards sell.
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.
| Buy | Neutral | Sell |
| 0 | 1 | 16 |
| Name | Value | Action |
| Exponential Moving Average (5) | 8410.6 | Sell |
| Simple Moving Average (5) | 8622.35 | Sell |
| Exponential Moving Average (10) | 8647.51 | Sell |
| Simple Moving Average (10) | 8658.71 | Sell |
| Exponential Moving Average (20) | 8922.12 | Sell |
| Simple Moving Average (20) | 9021.15 | Sell |
| Exponential Moving Average (30) | 9030.89 | Sell |
| Simple Moving Average (30) | 9380.73 | Sell |
| Exponential Moving Average (50) | 9006.28 | Sell |
| Simple Moving Average (50) | 9276.46 | Sell |
| Exponential Moving Average (100) | 8808.32 | Sell |
| Simple Moving Average (100) | 8417.5 | Sell |
| Exponential Moving Average (200) | 8611.9 | Sell |
| Simple Moving Average (200) | 8676 | Sell |
| Ichimoku Cloud Base Line (9, 26, 52, 26) | 9103.1 | Neutral |
| Volume Weighted Moving Average (20) | 8953.36 | Sell |
| Hull Moving Average (9) | 8350.82 | Sell |
Oscillator indicators
Oscillators are mostly neutral, with a slight bias towards sell opportunity. All are pointing to the fact that the price will continue to move around and we will see some stabilization around this number.
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.
| Buy | Neutral | Sell |
| 1 | 7 | 3 |
| Name | Value | Side |
| Relative Strength Index (14) | 32.74 | Neutral |
| Stochastic %K (14, 3, 3) | 15.09 | Neutral |
| Commodity Channel Index (20) | −156.80 | Neutral |
| Average Directional Index (14) | 24.37 | Neutral |
| Awesome Oscillator | −726.68 | Sell |
| Momentum (10) | −760.00 | Sell |
| MACD Level (12, 26) | −285.69 | Sell |
| Stochastic RSI Fast (3, 3, 14, 14) | 15 | Neutral |
| Williams Percent Range (14) | −87.15 | Buy |
| Bull Bear Power | −1627.25 | Neutral |
| Ultimate Oscillator (7, 14, 28) | 37.6 | Neutral |
Price Action
Most of the drop was triggered by large sudden transaction spaced out throughout the period. The bloodbath continued through the day just showing some signs of relief.
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