This is #35 of BTCUSD daily price 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 4 hr candles.

You can find price analysis from previous days here.

Summary

Market

  • As predicted yesterday, price continued consolidation under $6,000
  • Price at time of publishing: $5,800
  • BTC’s market cap: $101 Billion

Trend analysis

Price is now moving up, continuing the weak uptrend. Post the bloodbath on 13th March, price seems to be moving towards its highest value in last couple of days.
Note: Below analysis would hold true if we do not encounter sudden jump in trade volume.

  • Weak bullish today
  • Moving average‘ indicators are mixed. Price is now close to EMA50
  • Oscillator‘ indicators are mostly neutral, with slight bias towards buy opportunity

Moving Average Indicators

Post the consolidating in last couple of days with the slight up-movement, most short term MAs indicating a buy opportunity.

Definition:- Moving Average indicators are lagging indicators that help catch trends when they are beginning to take effect. The idea is to buy when the trend is moving up and sell when the trend is falling.

BuyNeutralSell
1115
NameValueAction
Exponential Moving Average (5)5582.60Buy
Simple Moving Average (5)5527.87Buy
Exponential Moving Average (10)5470.41Buy
Simple Moving Average (10)5409.11Buy
Exponential Moving Average (20)5415.22Buy
Simple Moving Average (20)5295.15Buy
Exponential Moving Average (30)5502.94Buy
Simple Moving Average (30)5277.28Buy
Exponential Moving Average (50)5855.07Sell
Simple Moving Average (50)5645.20Buy
Exponential Moving Average (100)6715.45Sell
Simple Moving Average (100)7122.32Sell
Exponential Moving Average (200)7644.35Sell
Simple Moving Average (200)8265.79Sell
Ichimoku Cloud Base Line (9, 26, 52, 26)5244.51Neutral
Volume Weighted Moving Average (20)5226.74Buy
Hull Moving Average (9)5656.78Buy

Oscillator indicators

Most oscillators are neutral, indicating no particular strong momentum. This is also confirmed by the fact that we have seen the price consolidating in the last coupe of days.

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
281
NameValueAction
Relative Strength Index (14)59.61Neutral
Stochastic %K (14, 3, 3)91.50Neutral
Commodity Channel Index (20)197.19Neutral
Average Directional Index (14)20.52Neutral
Awesome Oscillator186.15Buy
Momentum (10)481.58Sell
MACD Level (12, 26)−10.15Buy
Stochastic RSI Fast (3, 3, 14, 14)100.00Neutral
Williams Percent Range (14)−1.25Neutral
Bull Bear Power604.36Neutral
Ultimate Oscillator (7, 14, 28)68.91Neutral

Price Action

The price has been stable since yesterday, with no volume jumps.

BTCUSD price chart via Tradingview

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