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 a continued uptrend with price riding the upper band
- Price volatility was very high. The market moved ~5.21%, between $12.32k and $11.71k
Today’s Trend analysis
- BTCUSD expected to see a sideways movement as the price observed resistance from the upper band after riding the upper Bollinger band and Bollinger band expansion
- Price at time of publishing: $12,214
- BTC’s market cap: $226 Billion
- Oscillator indicators are mostly neutral. RSI at 79
- Moving average indicators are indicating an uptrend Ichimoku Cloud is neutral
- Volume indicators observed a change from an increase in volume with the price increase to a decrease in volume as the price increases
Price expected to see a sideways movement as the price observed resistance from the upper band after riding the upper Bollinger band and Bollinger band expansion. Most of the Oscillator indicators are neutral. MACD line moving above the signal line, with the histogram size increasing in the positive region suggesting bullish bias. RSI at 79, in the overbought region, indicating a downtrend. CCI at around 149, in the overbought region indicating a downtrend. Another interesting point to notice here is that the volume observed a change from an increase in volume with the price increase to a decrease in volume as the price increases indicating a shift from buyers to sellers.
Most of the oscillators are neutral. CCI at 149 in the overbought region. RSI with a value of around 79in the overbought 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)||79.09||Sell|
|Stochastic %K (14, 3, 3)||90.31||Neutral|
|Commodity Channel Index (20)||149.89||Sell|
|Average Directional Index (14)||46.67||Neutral|
|MACD Level (12, 26)||192.39||Buy|
|Stochastic RSI Fast (3, 3, 14, 14)||98.66||Neutral|
|Williams Percent Range (14)||−9.80||Neutral|
|Bull Bear Power||585.19||Neutral|
|Ultimate Oscillator (7, 14, 28)||56.11||Neutral|
Moving Average Indicators
Moving average (MA) indicators are indicating an uptrend. 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)||12108.05||Buy|
|Simple Moving Average (5)||12092.69||Buy|
|Exponential Moving Average (10)||11974.18||Buy|
|Simple Moving Average (10)||11942||Buy|
|Exponential Moving Average (20)||11804.69||Buy|
|Simple Moving Average (20)||11730.99||Buy|
|Exponential Moving Average (30)||11703.4||Buy|
|Simple Moving Average (30)||11603.1||Buy|
|Exponential Moving Average (50)||11567.37||Buy|
|Simple Moving Average (50)||11526.31||Buy|
|Exponential Moving Average (100)||11342.34||Buy|
|Simple Moving Average (100)||11261.16||Buy|
|Exponential Moving Average (200)||11132.32||Buy|
|Simple Moving Average (200)||10975.32||Buy|
|Ichimoku Cloud Base Line (9, 26, 52, 26)||11788.83||Neutral|
|Volume Weighted Moving Average (20)||11899.94||Buy|
|Hull Moving Average (9)||12256.27||Sell|
In the recent few candles, the volume saw an increase from 1.42k to 3.53k as the price increased while volume decreased to 1.61k as price observed a decline finally decreasing with price increase being above the 20-candle moving average which saw an increase from 1.04k to 1.75k.
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