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 rejection from the upper band
- Price volatility was high. The market moved ~8.29%, between $12.08k and $11.16k
Today’s Trend analysis
- BTCUSD expected to see a slight downtrend as the price got rejected from upper band with lower highs observed
- Price at time of publishing: $11,358
- BTC’s market cap: $210 Billion
- Oscillator indicators are mostly neutral. RSI at 36
- Moving average indicators are indicating a downtrend. Ichimoku Cloud is neutral
- Volume indicators observed a decrease in the recent red candles being above the 20-candle moving average
Price expected to see a slight downtrend as the price got rejected from upper band with lower highs observed. Most of the Oscillator indicators are neutral. MACD crossed below the signal line, with histogram changing direction from positive to the negative direction. RSI at 36, below to the midline still in the neutral region. CCI at around -86, in the neutral region pulled back from overbought region indicating a downtrend. Another interesting point to notice here is that the volume in the recent red candles saw a decrease suggesting a weakening selling pressure.
Most of the oscillators are neutral. CCI at -200 in the oversold region. RSI below the midline around 36 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)||36.57||Neutral|
|Stochastic %K (14, 3, 3)||40.11||Neutral|
|Commodity Channel Index (20)||−204.84||Neutral|
|Average Directional Index (14)||19.31||Neutral|
|MACD Level (12, 26)||45.9||Sell|
|Stochastic RSI Fast (3, 3, 14, 14)||3.45||Neutral|
|Williams Percent Range (14)||−76.73||Neutral|
|Bull Bear Power||−570.43||Sell|
|Ultimate Oscillator (7, 14, 28)||42.16||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)||11679.97||Sell|
|Simple Moving Average (5)||11764.48||Sell|
|Exponential Moving Average (10)||11741.13||Sell|
|Simple Moving Average (10)||11802.56||Sell|
|Exponential Moving Average (20)||11718.51||Sell|
|Simple Moving Average (20)||11733.47||Sell|
|Exponential Moving Average (30)||11684.35||Sell|
|Simple Moving Average (30)||11663.01||Sell|
|Exponential Moving Average (50)||11652.37||Sell|
|Simple Moving Average (50)||11558.19||Sell|
|Exponential Moving Average (100)||11618.18||Sell|
|Simple Moving Average (100)||11683.04||Sell|
|Exponential Moving Average (200)||11385.04||Sell|
|Simple Moving Average (200)||11639.87||Sell|
|Ichimoku Cloud Base Line (9, 26, 52, 26)||11610.57||Neutral|
|Volume Weighted Moving Average (20)||11726.83||Sell|
|Hull Moving Average (9)||11652.89||Sell|
In the recent few candles, the volume observed a decrease as the red candles were observed from 3.64k to 979 being above the 20-candle moving average from 1.44k to 1.69k.
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