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

  • As predicted in yesterday’s analysis, BTCUSD price consolidated. Both bulls and bears tried to gain control, but both failed. Market moved ~2%, between $9.4k and $9.7k
  • Price at time of publishing: $9,680
  • BTC’s market cap: $171 Billion

Today’s Trend analysis

Price should continue sideways trend today. Oscillators are mostly neutral and compared to yesterday more have switched to confirm neutral momentum. MACD histogram is in negative zone. RSI is at 55 and CCI at 37, both moving closer to neutral zone, confirming that bulls are loosing strength.

BTCUSD 4hr price chart via tradingview

Moving Average Indicators

Most moving average (MA) indicator are still pointing towards an uptrend. MA values have been spread over a huge range as volatility has been very high in past few weeks. 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
1610
NameValueAction
Exponential Moving Average (5)9677.90Buy
Simple Moving Average (5)9642.64Buy
Exponential Moving Average (10)9666.07Buy
Simple Moving Average (10)9671.00Buy
Exponential Moving Average (20)9619.93Buy
Simple Moving Average (20)9626.17Buy
Exponential Moving Average (30)9563.01Buy
Simple Moving Average (30)9579.08Buy
Exponential Moving Average (50)9457.83Buy
Simple Moving Average (50)9374.34Buy
Exponential Moving Average (100)9179.98Buy
Simple Moving Average (100)9278.75Buy
Exponential Moving Average (200)8662.14Buy
Simple Moving Average (200)8468.29Buy
Ichimoku Cloud Base Line (9, 26, 52, 26)9539.06Neutral
Volume Weighted Moving Average (20)9684.71Buy
Hull Moving Average (9)9684.58Buy

Oscillator indicators

Some of the oscillator has flipped their positions compared to yesterday, now moving towards neutral zone.

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
191
NameValueAction
Relative Strength Index (14)54.81Neutral
Stochastic %K (14, 3, 3)50.28Neutral
Commodity Channel Index (20)37.85Neutral
Average Directional Index (14)13.49Neutral
Awesome Oscillator70.21Neutral
Momentum (10)−164.28Buy
MACD Level (12, 26)73.50Sell
Stochastic RSI Fast (3, 3, 14, 14)38.83Neutral
Williams Percent Range (14)−52.45Neutral
Bull Bear Power90.09Neutral
Ultimate Oscillator (7, 14, 28)56.56Neutral

What the price charts say…

Yesterday’s movement did not see a significant shift in trade volume.
Bitcoin halving has been showing its impact on price volatility. There have been many unpredictable volume bumps, which coincide with drastic change in price. Bitcoin continues to be very volatile, hence investors are advised to should be cautious.


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