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.
Analysis Summary
Market in last 24 hrs
- As predicted in the previous analysis, BTCUSD market consolidated. Market moved ~3%, between $8.7k and $9.0k
- Price at time of publishing: $8,830
- BTC’s market cap: $166 Billion
Today’s Trend analysis
Price expected to be move up today. Most of the Oscillator indicators are neutral. MACD histogram is now in positive zone. RSI and CCI are weakly trending up, currently at 40 and -70 and CCI has cross up -100, indicating that bears are loosing strength and trend reversal is around the corner. To add to this, price has bounce up from lower Bollinger Band. Price movement is expected to be choppy today before it starts moving up.
- Weak uptrend today
- ‘Oscillator‘ indicators are mostly neutral. RSI at 40
- ‘Moving average‘ indicators are indicating a downtrend. Ichimoku Cloud is neutral
Oscillator indicators
Most of the oscillators are neutral and some more have now flipped ot indicate the same. Momentum has built up and trend reversal is around the corner. Price is expected to be choppy today before it starts moving up.
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.
| Buy | Neutral | Sell |
| 2 | 8 | 1 |
| Name | Value | Action |
|---|---|---|
| Relative Strength Index (14) | 48.04 | Neutral |
| Stochastic %K (14, 3, 3) | 23.25 | Neutral |
| Commodity Channel Index (20) | −87.21 | Neutral |
| Average Directional Index (14) | 22.05 | Neutral |
| Awesome Oscillator | 114.91 | Neutral |
| Momentum (10) | −573.61 | Buy |
| MACD Level (12, 26) | 154.17 | Sell |
| Stochastic RSI Fast (3, 3, 14, 14) | 7.30 | Neutral |
| Williams Percent Range (14) | −86.12 | Neutral |
| Bull Bear Power | −436.49 | Buy |
| Ultimate Oscillator (7, 14, 28) | 45.98 | Neutral |
Moving Average Indicators
Most moving average (MA) indicator giving mixed signals. All short term MAs are pointing towards a downtrend and all long term MAs are pointing towards an uptrend. Ichimoku Cloud is neutral and Hull MA is indicating a buying 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.
| Buy | Neutral | Sell |
| 7 | 1 | 9 |
| Name | Value | Action |
|---|---|---|
| Exponential Moving Average (5) | 8959.01 | Sell |
| Simple Moving Average (5) | 8958.64 | Sell |
| Exponential Moving Average (10) | 9093.99 | Sell |
| Simple Moving Average (10) | 9254.54 | Sell |
| Exponential Moving Average (20) | 9062.16 | Sell |
| Simple Moving Average (20) | 9291.31 | Sell |
| Exponential Moving Average (30) | 8881.71 | Sell |
| Simple Moving Average (30) | 9086.74 | Sell |
| Exponential Moving Average (50) | 8557.23 | Buy |
| Simple Moving Average (50) | 8301.91 | Buy |
| Exponential Moving Average (100) | 8257.32 | Buy |
| Simple Moving Average (100) | 7915.44 | Buy |
| Exponential Moving Average (200) | 8199.22 | Buy |
| Simple Moving Average (200) | 8045.55 | Buy |
| Ichimoku Cloud Base Line (9, 26, 52, 26) | 9091.50 | Neutral |
| Volume Weighted Moving Average (20) | 9273.82 | Sell |
| Hull Moving Average (9) | 8707.14 | Buy |
Trade volume
We did not observe any abnormal movement in trade volume yesterday.
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