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.
Market in last 24hrs
- As predicted in the previous analysis, BTCUSD price saw a trend reversal
- Market moved ~5%, between $9.25k and $9.62k
Today’s Trend analysis
- Weak downtrend today
- Price at time of publishing: $9,415
- BTC’s market cap: $174 Billion
- ‘Oscillator‘ indicators are mostly neutral. RSI at 55
- ‘Moving average‘ indicators are indicating an uptrend. Ichimoku Cloud is neutral
Price expected to move down today. Most of the Oscillator indicators are neutral. MACD histogram continues to be in positive zone but is trending down. RSI and CCI too are trending down, currently at 55 and 34. CCI crossed down 100. All factors indicating that bulls are loosing strength and bears are now in control. Price has bounced back from upper Bollinger Band. Overall, price is now expected to move down.
Most of the oscillators are neutral and some more have now flipped to indicate the same. Upward momentum has built up and as predicted yesterday, we saw a trend reversal. Price is expected to move up slightly.
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.
|Relative Strength Index (14)||55.47||Neutral|
|Stochastic %K (14, 3, 3)||57.15||Neutral|
|Commodity Channel Index (20)||34.02||Neutral|
|Average Directional Index (14)||19.83||Neutral|
|MACD Level (12, 26)||178.79||Sell|
|Stochastic RSI Fast (3, 3, 14, 14)||53.89||Neutral|
|Williams Percent Range (14)||−42.85||Neutral|
|Bull Bear Power||493.68||Neutral|
|Ultimate Oscillator (7, 14, 28)||54.47||Neutral|
Moving Average Indicators
Most moving average (MA) indicator 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.
|Exponential Moving Average (5)||9280.97||Buy|
|Simple Moving Average (5)||9185.08||Buy|
|Exponential Moving Average (10)||9237.02||Buy|
|Simple Moving Average (10)||9157.65||Buy|
|Exponential Moving Average (20)||9151.44||Buy|
|Simple Moving Average (20)||9234.23||Buy|
|Exponential Moving Average (30)||8976.60||Buy|
|Simple Moving Average (30)||9215.47||Buy|
|Exponential Moving Average (50)||8652.98||Buy|
|Simple Moving Average (50)||8428.75||Buy|
|Exponential Moving Average (100)||8324.05||Buy|
|Simple Moving Average (100)||7902.72||Buy|
|Exponential Moving Average (200)||8234.78||Buy|
|Simple Moving Average (200)||8053.80||Buy|
|Ichimoku Cloud Base Line (9, 26, 52, 26)||9091.50||Neutral|
|Volume Weighted Moving Average (20)||9161.47||Buy|
|Hull Moving Average (9)||9383.28||Buy|
We did observe a slight increase in trade volume in last 24 hours. Volume in last 4hr candle is back to average.
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