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.
Market in the last 24hrs
- BTC touched the upper Bollinger band and accepted it as a resistance line, then we saw a slight downward movement but an upward doji may have put BTC back on its bullish track.
Today’s Trend analysis
- Price is most likely to continue to move in an upward direction till it reaches the upper Bollinger band.
- Volume remained extremely low suggesting uncertainty among investors
- Price volatility remained high at approximately 7.3%, with the day’s range between $35825 — $38446
- Price at the time of publishing: $37175
- BTC’s market cap: $697 Billion
- Oscillator indicators are mostly neutral.
- Moving average Indicators are giving a strongly bullish view.
Price is most likely to continue to move in an upward direction till it reaches the upper Bollinger band. We might see a bearish movement if there is a volume spike in the negative direction. RSI is above the midline and is in the neutral zone. MACD is still in the green and briefly saw a downward movement but has been moving sideways right now. This could indicate the price is likely to move sideways with a slight hint of a bullish trend.
BTCUSD 4hr price chart via tradingview
Most of the oscillators are neutral. MACD is at around 478, suggesting bullish momentum.
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)||58||Neutral|
|Stochastic %K (14, 3, 3)||76||Neutral|
|Commodity Channel Index (20)||60||Neutral|
|Average Directional Index (14)||23||Neutral|
|MACD Level (12, 26)||478||Buy|
|Stochastic RSI Fast (3, 3, 14, 14)||73||Neutral|
|Williams Percent Range (14)||-24||Neutral|
|Bull Bear Power||1346||Neutral|
|Ultimate Oscillator (7, 14, 28)||59||Neutral|
Moving Average Indicators
Moving average (MA) indicators are indicating a strong 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.
|Exponential Moving Average (10)||36694||Buy|
|Simple Moving Average (10)||37055||Buy|
|Exponential Moving Average (20)||36212||Buy|
|Simple Moving Average (20)||35473||Buy|
|Exponential Moving Average (30)||36058||Buy|
|Simple Moving Average (30)||35476||Buy|
|Exponential Moving Average (50)||36134||Buy|
|Simple Moving Average (50)||36132||Buy|
|Exponential Moving Average (100)||37268||Sell|
|Simple Moving Average (100)||36587||Buy|
|Exponential Moving Average (200)||40758||Sell|
|Simple Moving Average (200)||41124||Sell|
|Ichimoku Cloud Base Line (9, 26, 52, 26)||34736||Neutral|
|Volume Weighted Moving Average (20)||35112||Buy|
|Hull Moving Average (9)||36882||Buy|
In the recent few candles, the traded volume observed was decreasing. It suggested that the traders might be on a cautious mode and waiting for a confirmation about the direction.
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