Mudrex Price Analysis #110 Bitcoin (BTC/USD) – 1st July 2020

This is BTCUSD daily price analysis, provided by Mudrex (automated crypto investing platform). This analysis is based on signals from 28 technical indicators, out of which 17 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 on Tradingview.

Analysis Summary

Market in the last 24hrs

  • BTCUSD price continued sideways movement
  • Price volatility was low. The market moved ~1.5%, between $9.07k and $9.19k

Today’s Trend analysis

Price is expected to trend up today. Most of the Oscillator indicators are neutral with a bias towards positive momentum. MACD line is trending up and is about to cross up 0 and MACD histogram is in the positive zone. RSI and CCI, are trending up and are above their midpoints. The Onn balance volume indicator, too, is trending up. All factors indicating that bulls are getting stronger. Overall, the price is expected to move up today.

Mudrex Price Analysis
BTCUSD 4hr price chart via tradingview

Oscillator indicators

Most of the oscillators are neutral with a bias towards the buy side. CCI is trending up and close to 100.

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. RSI is above 50 and MACD is pointing towards a buying opportunity.

Relative Strength Index (14)50.18Neutral
Stochastic %K (14, 3, 3)55.47Neutral
Commodity Channel Index (20)53.51Neutral
Average Directional Index (14)22.60Neutral
Awesome Oscillator19.65Buy
Momentum (10)−1.98Buy
MACD Level (12, 26)−8.47Buy
Stochastic RSI Fast (3, 3, 14, 14)51.63Neutral
Williams Percent Range (14)−40.47Neutral
Bull Bear Power51.24Neutral
Ultimate Oscillator (7, 14, 28)54.45Neutral

Moving Average Indicators

Moving average (MA) indicators are mixed with short term MAs pointing towards an uptrend and long-term MAs pointing towards a downtrend. Ichimoku Cloud is neutral and Hull MA is indicating a buying opportunity.

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 (5)9141.94Buy
Simple Moving Average (5)9138.12Buy
Exponential Moving Average (10)9139.13Buy
Simple Moving Average (10)9149.38Sell
Exponential Moving Average (20)9138.32Buy
Simple Moving Average (20)9123.34Buy
Exponential Moving Average (30)9153.31Sell
Simple Moving Average (30)9115.02Buy
Exponential Moving Average (50)9195.84Sell
Simple Moving Average (50)9215.09Sell
Exponential Moving Average (100)9279.51Sell
Simple Moving Average (100)9301.58Sell
Exponential Moving Average (200)9294.92Sell
Simple Moving Average (200)9458.26Sell
Ichimoku Cloud Base Line (9, 26, 52, 26)9035.50Neutral
Volume Weighted Moving Average (20)9121.78Buy
Hull Moving Average (9)9133.85Buy

Trade volume

Trade volume on red candles has been slightly lower than average for the last 2 days, indicating that selling pressure is low.

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