This #11 of daily price analysis on BTCUSD price provided by Mudrex (automated crypto investing platform).
- Price at time of publishing: $10330
- BTC’s market cap: $187 Billion
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
All Moving averages are up. There could not be a stronger signal of upmove.
|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 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.
|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|
|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|
Most of the growth came in a single 1-hour candle. Apart from that markets were as choppy as expected. Looks like a series of large orders lead to the upswing.
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