This is BTCUSD daily price analysis, provided by Mudrex (automated crypto investing platform). This analysis is based on signals from 26 technical indicators, out of which 15 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 the blog here and on Tradingview here.

Analysis Summary

Market in the last 24hrs

  • BTCUSD witnessed a roller coaster ride. There was a sharp rise, then a retracement, followed by a rally.

Today’s Trend analysis

  • BTCUSD seems to have a strong momentum. Volume has also shot up.
  • However, the increasing channels of the Bollinger Bands suggest increased volatility.
  • Price volatility remained high at approximately 6%, with the day’s range between $36,254.00 – $38446.24.
  • Price at the time of publishing: $37849.42
  • BTC’s market cap: $707.14 Billion
  • Oscillator indicators are mostly neutral. 
  • 11 Moving average indicators are suggesting an uptrend. 

Price expected to see a slight uptrend. Volatility will likely remain high in the smaller timeframe. The momentum is high right now, and the Bitcoin price could quickly fluctuate. In the next 24 hours, we could witness some consolidation, if the market does not experience much external influence. Most of the Oscillator indicators are neutral. MACD histogram size is increasing in the positive region suggesting a bullish bias. RSI is steadily inching towards the overbought region. The volume candle has also witnessed a small spike.

BTCUSD 4hr price chart via tradingview

Oscillator indicators

Most of the oscillators are neutral. CCI is at around 111, 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.

SellNeutralBuy
281
NameValueAction
Relative Strength Index (14)63.07Neutral
Stochastic %K (14, 3, 3)89.93Sell
Commodity Channel Index (20)111.98Neutral
Average Directional Index (14)27.51Neutral
Awesome Oscillator1496.53Neutral
Momentum (10)4836.39Sell
MACD Level (12, 26)341.69Buy
Stochastic RSI Fast (3, 3, 14, 14)95.08Neutral
Williams Percent Range (14)−9.39Neutral
Bull Bear Power2942.55Neutral
Ultimate Oscillator (7, 14, 28)67.16Neutral

Moving Average Indicators

Moving average (MA) indicators are indicating an uptrend. 

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.

SellNeutralBuy
3111
NameValueAction
Exponential Moving Average (10)36146.04Buy
Simple Moving Average (10)35726.89Buy
Exponential Moving Average (20)35631.13Buy
Simple Moving Average (20)34935.50Buy
Exponential Moving Average (30)35637.39Buy
Simple Moving Average (30)35284.25Buy
Exponential Moving Average (50)35923.05Buy
Simple Moving Average (50)36215.09Buy
Exponential Moving Average (100)37313.88Buy
Simple Moving Average (100)36658.67Buy
Exponential Moving Average (200)40996.04Sell
Simple Moving Average (200)41775.81Sell
Ichimoku Cloud Base Line (9, 26, 52, 26)34735.62Neutral
Volume Weighted Moving Average (20)34669.54Buy
Hull Moving Average (9)37880.34Sell

Trade volume

In the recent few candles, the traded volume observed a similar value with a sudden spike in the recent candles, making the total volume 2.99k.


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