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 on blog here and on Tradingview here.
Market in last 24hrs
- BTCUSD saw an uptrend and decreased thereafter
- Price volatility was high. The market moved ~2.53%, between $11.54k and $11.25k
Today’s Trend analysis
- BTCUSD expected to see a downtrend as potential head and shoulder pattern expected
- Price at time of publishing: $11,351
- BTC’s market cap: $210 Billion
- Oscillator indicators are mostly neutral. RSI at 38
- Moving average indicators are indicating a downtrend. Ichimoku Cloud is neutral
- Volume indicators observed decreased for red candles suggesting weak selling pressure
Price expected to see a downtrend as potential head and shoulder patterns expected with left shoulder and head formation completed. Most of the Oscillator indicators are neutral. MACD below the signal line, with histogram size decreasing in negative direction. RSI at 38, below the midline still in the neutral region. CCI at around -70, in the neutral region with a down move. Another interesting point to notice here is that the volume in the recent red candles was decreasing suggesting weak selling pressure.
Most of the oscillators are neutral. CCI at -52 in the neutral region. RSI below the midline around 40 still in the neutral region.
Definition:- Oscillator indicators are based on the 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)||40.90||Neutral|
|Stochastic %K (14, 3, 3)||44.51||Neutral|
|Commodity Channel Index (20)||−52.71||Neutral|
|Average Directional Index (14)||32.63||Neutral|
|MACD Level (12, 26)||−74.14||Sell|
|Stochastic RSI Fast (3, 3, 14, 14)||58.99||Neutral|
|Williams Percent Range (14)||−50.81||Neutral|
|Bull Bear Power||−92.45||Neutral|
|Ultimate Oscillator (7, 14, 28)||57.75||Neutral|
Moving Average Indicators
Moving average (MA) indicators are indicating a downtrend. 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.
|Exponential Moving Average (5)||11413.88||Sell|
|Simple Moving Average (5)||11425.92||Sell|
|Exponential Moving Average (10)||11433.66||Sell|
|Simple Moving Average (10)||11404.66||Sell|
|Exponential Moving Average (20)||11488.76||Sell|
|Simple Moving Average (20)||11522.43||Sell|
|Exponential Moving Average (30)||11536.54||Sell|
|Simple Moving Average (30)||11557.56||Sell|
|Exponential Moving Average (50)||11599.85||Sell|
|Simple Moving Average (50)||11626.48||Sell|
|Exponential Moving Average (100)||11594.39||Sell|
|Simple Moving Average (100)||11714.02||Sell|
|Exponential Moving Average (200)||11280.84||Buy|
|Simple Moving Average (200)||11449.64||Sell|
|Ichimoku Cloud Base Line (9, 26, 52, 26)||11472.65||Neutral|
|Volume Weighted Moving Average (20)||11476.45||Sell|
|Hull Moving Average (9)||11411.42||Sell|
In recent few candles, the volume observed a decrease as red candles were seen from 2.85k to 671 suggesting a weak selling pressure with the 20-candle moving average increasing from 1.56k to 1.65k.
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