This is BTCUSD daily price analysis, provided by Mudrex (automated crypto investing platform). This price 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 our blog and Tradingview.

Price Analysis Summary

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. 

Mudrex 4Hr Price Analysis #282 Bitcoin(BTC/USD) – 11th June 2021

BTCUSD 4hr price chart via tradingview

Oscillator indicators

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.

SellNeutralBuy
191
NameValueAction
Relative Strength Index (14)58Neutral
Stochastic %K (14, 3, 3)76Neutral
Commodity Channel Index (20)60Neutral
Average Directional Index (14)23Neutral
Awesome Oscillator1305Neutral
Momentum (10)767Sell
MACD Level (12, 26)478Buy
Stochastic RSI Fast (3, 3, 14, 14)73Neutral
Williams Percent Range (14)-24Neutral
Bull Bear Power1346Neutral
Ultimate Oscillator (7, 14, 28)59Neutral

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.

SellNeutralBuy
3111
NameValueAction
Exponential Moving Average (10)36694Buy
Simple Moving Average (10)37055Buy
Exponential Moving Average (20)36212Buy
Simple Moving Average (20)35473Buy
Exponential Moving Average (30)36058Buy
Simple Moving Average (30)35476Buy
Exponential Moving Average (50)36134Buy
Simple Moving Average (50)36132Buy
Exponential Moving Average (100)37268Sell
Simple Moving Average (100)36587Buy
Exponential Moving Average (200)40758Sell
Simple Moving Average (200)41124Sell
Ichimoku Cloud Base Line (9, 26, 52, 26)34736Neutral
Volume Weighted Moving Average (20)35112Buy
Hull Moving Average (9)36882Buy

Trade volume

In the recent few candles, the traded volume observed was decreasing. It suggested that the traders might be in a cautious mode and waiting for a confirmation about the direction. 


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