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 after getting lower Bollinger band support
- Price volatility was very high. The market moved ~3.89%, between $16.40k and $15.78k
Today’s Trend analysis
- BTCUSD expected to see a slight downtrend as the price has been trading between the bands, with upper band resistance expected
- Price at time of publishing: $16,332
- BTC’s market cap: $301 Billion
- Oscillator indicators are mostly neutral. RSI at 61
- Moving average indicators are indicating an uptrend Ichimoku Cloud is neutral
- Volume indicators observed a decrease in value for red candles while observed an increase for blue candles
Price expected to see a slight downtrend as the price has been trading between the bands, with upper band resistance expected. Most of the Oscillator indicators are neutral. MACD line approaching from below the signal line, with the histogram size decreasing in the negative region suggesting bearish bias. RSI at 61, in the neutral region above the midline. CCI at around 125, in the overbought region indicating a downtrend. Another interesting point to notice here is that the volume observed a decrease in value for red candles while observed an increase for blue candles indicating a shift from sellers to buyers.
Most of the oscillators are neutral. CCI at 125 in the overbought region. RSI with a value of around 61 above midline 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)||60.89||Neutral|
|Stochastic %K (14, 3, 3)||74.35||Neutral|
|Commodity Channel Index (20)||120.53||Sell|
|Average Directional Index (14)||15.08||Neutral|
|MACD Level (12, 26)||94.62||Sell|
|Stochastic RSI Fast (3, 3, 14, 14)||76.29||Neutral|
|Williams Percent Range (14)||−10.47||Neutral|
|Bull Bear Power||412.64||Neutral|
|Ultimate Oscillator (7, 14, 28)||56.38||Neutral|
Moving Average Indicators
Moving average (MA) indicators are indicating 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)||16162.22||Buy|
|Simple Moving Average (5)||16091.47||Buy|
|Exponential Moving Average (10)||16100.18||Buy|
|Simple Moving Average (10)||16055.16||Buy|
|Exponential Moving Average (20)||16041.99||Buy|
|Simple Moving Average (20)||16096.76||Buy|
|Exponential Moving Average (30)||15956.63||Buy|
|Simple Moving Average (30)||16049.26||Buy|
|Exponential Moving Average (50)||15728.9||Buy|
|Simple Moving Average (50)||15767.37||Buy|
|Exponential Moving Average (100)||15096.14||Buy|
|Simple Moving Average (100)||15029.82||Buy|
|Exponential Moving Average (200)||14074.68||Buy|
|Simple Moving Average (200)||13737.24||Buy|
|Ichimoku Cloud Base Line (9, 26, 52, 26)||16046.96||Neutral|
|Volume Weighted Moving Average (20)||16119.73||Buy|
|Hull Moving Average (9)||16205.84||Buy|
In the recent few candles, the volume saw a decline in value for red candles while the volume increased for blue candles, making the total traded volume in between 1.34k and 237. The 20-candle moving average saw a decrease in value from 1.45k to 869.
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