This is 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 in last 24 hrs

  • BTCUSD price saw a sudden downward trend after volume surge. Overall market moved 15%, between $8.1k and $9.8k
  • Price at time of publishing: $8,870
  • BTC’s market cap: $165 Billion

Today’s Trend analysis

Price should trend downwards today. Oscillators are neutral but compared to yesterday many have now flipped to indicate downward momentum. MACD is at -170, far below 0 and RSI & CCI are in below neutral zone, indicating that bears have gained strength.
Another interesting point to notice is the affect of Halving-Hype and the impact of the same on BTC and other Crypto tokens. We are observing an increased trade volume and price volatility.

BTCUSD 4hr price chart via tradingview

Moving Average Indicators

Moving average indicator values have been spread over a huge range as volatility has been very high in past few weeks. All long term MAs are indicating a buying opportunity. Ichimoku Cloud is neutral and Hull MA is indicating a selling 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
719
NameValueAction
Exponential Moving Average (5)8837.28Buy
Simple Moving Average (5)8813.10Buy
Exponential Moving Average (10)8887.51Sell
Simple Moving Average (10)8753.39Buy
Exponential Moving Average (20)9044.99Sell
Simple Moving Average (20)9199.07Sell
Exponential Moving Average (30)9105.46Sell
Simple Moving Average (30)9337.24Sell
Exponential Moving Average (50)9061.21Sell
Simple Moving Average (50)9177.26Sell
Exponential Moving Average (100)8717.13Buy
Simple Moving Average (100)8717.09Buy
Exponential Moving Average (200)8187.49Buy
Simple Moving Average (200)7880.86Buy
Ichimoku Cloud Base Line (9, 26, 52, 26)9091.50Neutral
Volume Weighted Moving Average (20)9069.22Sell
Hull Moving Average (9)8921.76Sell

Oscillator indicators

Oscillators are mostly neutral today and many have flipped to indicate downward momentum. Bears have gained strength.

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. RSI is above 50 and MACD is pointing towards a buy opportunity.

BuyNeutralSell
092
NameValueAction
Relative Strength Index (14)43.37Neutral
Stochastic %K (14, 3, 3)45.91Neutral
Commodity Channel Index (20)−44.43Neutral
Average Directional Index (14)37.10Neutral
Awesome Oscillator−515.46Neutral
Momentum (10)235.05Sell
MACD Level (12, 26)−166.95Sell
Stochastic RSI Fast (3, 3, 14, 14)48.58Neutral
Williams Percent Range (14)−55.28Neutral
Bull Bear Power−151.75Neutral
Ultimate Oscillator (7, 14, 28)54.46Neutral

What the price charts say…

Volume and price volatility currently is very high. Halving, which is due any-day now, is showing its impact and the volatility currently is high from last few weeks. There have been many unpredictable volume bumps, which coincide with drastic change in price. Bitcoin continues to be very volatile, hence investors should be cautious.


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