This is BTCUSD daily price analysis (Bitcoin 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.
Market in last 1 week
- BTCUSD saw a downtrend followed by midline support to consolidate
- Price volatility was very high. The market moved ~9.33%, between $11.08k and $10.13k
Today’s Trend analysis
- BTCUSD expected to see a potential breakout as price is trading inside bands with double bottom expected
- Price at time of publishing: $10,711
- BTC’s market cap: $198 Billion
- Oscillator indicators are mostly neutral. RSI at 49
- Moving average indicators are suggesting an uptrend. Ichimoku Cloud is neutral
- Volume indicators observed an increase in volume except for a spike for a sudden price decline
Price expected to see a potential breakout as price is trading inside bands with double bottom expected. Most of the Oscillator indicators are neutral. MACD moving above the signal line with histogram size increasing in the positive direction suggesting a bullish bias. RSI at 49, close to the midline, still in the neutral region. CCI is around 34, also in the neutral. Another interesting point to notice here is that Bollinger band squeezes and the volumes observed an increase in volume except a spine for a sudden price decline suggesting a shift from sellers to buyers.
Most of the oscillators are neutral. CCI is around 31, in the neutral region. RSI close to the midline with a value of 50 in the neutral region.
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.
|Relative Strength Index (14)||49.09||Neutral|
|Stochastic %K (14, 3, 3)||55.21||Neutral|
|Commodity Channel Index (20)||31.65||Neutral|
|Average Directional Index (14)||18.38||Neutral|
|MACD Level (12, 26)||−85.52||Buy|
|Stochastic RSI Fast (3, 3, 14, 14)||62.49||Neutral|
|Williams Percent Range (14)||−45.14||Neutral|
|Bull Bear Power||144.31||Neutral|
|Ultimate Oscillator (7, 14, 28)||51.7||Neutral|
Moving Average Indicators
Moving average (MA) indicators indicate 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)||10657.39||Buy|
|Simple Moving Average (5)||10582.6||Buy|
|Exponential Moving Average (10)||10661.74||Buy|
|Simple Moving Average (10)||10719.67||Sell|
|Exponential Moving Average (20)||10711.89||Sell|
|Simple Moving Average (20)||10592.74||Buy|
|Exponential Moving Average (30)||10773.7||Sell|
|Simple Moving Average (30)||10753.11||Sell|
|Exponential Moving Average (50)||10782.69||Sell|
|Simple Moving Average (50)||11137.06||Sell|
|Exponential Moving Average (100)||10465.14||Buy|
|Simple Moving Average (100)||10462.22||Buy|
|Exponential Moving Average (200)||9836.49||Buy|
|Simple Moving Average (200)||9250.19||Buy|
|Ichimoku Cloud Base Line (9, 26, 52, 26)||10945.45||Neutral|
|Volume Weighted Moving Average (20)||10543.57||Buy|
|Hull Moving Average (9)||10594.29||Buy|
In the last few candles, there was an increase from 5.7k to 9.6k except for a spike observed at 14.9k for a sudden price decline being below the 20-candle moving average which declined from 13.1k to 9.6k.
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