This #11 of daily price analysis on BTCUSD price provided by Mudrex. You can find the previous analysis here.
Summary
Market
- BTC/USD
- Price at time of publishing: $10330
- BTC’s market cap: $187 Billion
Trend analysis
Shorts got denied yesterday around the strong support built at $9.7k. BTC is back in the +10k range. All MAs are up showing a strong upward movement. Apart from some minor correction, the upward move should continue. The only sign of concern is that the upswing was concentrated on 1 large 1hour candle.
- Overall Strong bullish trend.
- Moving averages are unanimously pointing up. Price should only move up now ?
- Oscillators are mixed.
- It looks like the large order triggered the upswing. Having said that, growth is strong and overall up move should continue
Moving Averages
All Moving averages are up. There could not be a stronger signal of upmove.
| Buy | Neutral | Sell |
| 16 | 1 | 0 |
| Name | Value | Action |
| Exponential Moving Average (5) | 10108.2 | Buy |
| Simple Moving Average (5) | 10108.12 | Buy |
| Exponential Moving Average (10) | 9881.33 | Buy |
| Simple Moving Average (10) | 9817.95 | Buy |
| Exponential Moving Average (20) | 9519.65 | Buy |
| Simple Moving Average (20) | 9431.45 | Buy |
| Exponential Moving Average (30) | 9232.1 | Buy |
| Simple Moving Average (30) | 9196.44 | Buy |
| Exponential Moving Average (50) | 8850.6 | Buy |
| Simple Moving Average (50) | 8540.7 | Buy |
| Exponential Moving Average (100) | 8558.31 | Buy |
| Simple Moving Average (100) | 8138.71 | Buy |
| Exponential Moving Average (200) | 8431.97 | Buy |
| Simple Moving Average (200) | 8865.02 | Buy |
| Ichimoku Cloud Base Line (9, 26, 52, 26) | 9308.65 | Neutral |
| Volume Weighted Moving Average (20) | 9503.46 | Buy |
| Hull Moving Average (9) | 10288.76 | Buy |
Oscillators
Oscillators are uncertain about the future. Most are neutral. However some have moved from sell to neutral indicating that we might still see some choppiness and correction.
| Buy | Neutral | Sell |
| 2 | 6 | 3 |
| Name | Value | Action |
| Relative Strength Index (14) | 71.11 | Sell |
| Stochastic %K (14, 3, 3) | 86.71 | Neutral |
| Commodity Channel Index (20) | 137.77 | Sell |
| Average Directional Index (14) | 43.77 | Neutral |
| Awesome Oscillator | 1008.85 | Buy |
| Momentum (10) | 1009.11 | Sell |
| MACD Level (12, 26) | 462.43 | Buy |
| Stochastic RSI Fast (3, 3, 14, 14) | 61.57 | Neutral |
| Williams Percent Range (14) | −4.64 | Neutral |
| Bull Bear Power | 1104.12 | Neutral |
| Ultimate Oscillator (7, 14, 28) | 66.9 | Neutral |
Price Action
Most of the growth came in in a singe 1 hour candle. Apart form that markets were as choppy as expected. Looks like a series of large orders lead to the upswing.
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