This is the daily Bitcoin analysis (BTC USD 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 in our blog and Tradingview.
Analysis Summary
Market in the last 24hrs
- BTCUSD price saw a strong uptrend
- Price volatility was high. The market moved ~2%, between $9.2k and $9.38k
Today’s Trend analysis
- Weak Downward movement before upward trend today
- Price at time of publishing: $9,245
- BTC’s market cap: $170 Billion
- Oscillator indicators are mostly neutral. RSI at 58
- Moving average indicators are biased towards uptrend. Ichimoku Cloud is neutral
- Volume indicators are supporting a trend reversal
Price expected to trend down before a weak uptrend today. Most of the Oscillator indicators are neutral. MACD line had a recent uptrend but MACD histogram is decreasing. RSI and CCI, are trending down and are above their midpoints. CCI crossed down below 100 which is a bearish sign. Another interesting point to notice here is that price has bounced back from the upper Bollinger and might take support from Bollinger midline. Decreasing volumes suggest a downtrend might not last long!
Oscillator indicators
Most of the oscillators are neutral. CCI crossed down 100 and RSI crossed down 70 and both are bearish signs.
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.
| Buy | Neutral | Sell |
| 2 | 9 | 0 |
| Name | Value | Action |
|---|---|---|
| Relative Strength Index (14) | 57.74 | Neutral |
| Stochastic %K (14, 3, 3) | 75.29 | Neutral |
| Commodity Channel Index (20) | 63.57 | Neutral |
| Average Directional Index (14) | 19.40 | Neutral |
| Awesome Oscillator | 156.13 | Neutral |
| Momentum (10) | 217.73 | Buy |
| MACD Level (12, 26) | 45.08 | Buy |
| Stochastic RSI Fast (3, 3, 14, 14) | 66.33 | Neutral |
| Williams Percent Range (14) | −29.38 | Neutral |
| Bull Bear Power | 61.54 | Neutral |
| Ultimate Oscillator (7, 14, 28) | 56.89 | Neutral |
Moving Average Indicators
Moving average (MA) indicators are biased towards an uptrend.. Ichimoku Cloud is neutral and Hull MA is indicating a selling 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.
| Buy | Neutral | Sell |
| 11 | 1 | 5 |
| Name | Value | Action |
|---|---|---|
| Exponential Moving Average (5) | 9263.85 | Sell |
| Simple Moving Average (5) | 9288.92 | Sell |
| Exponential Moving Average (10) | 9234.46 | Buy |
| Simple Moving Average (10) | 9234.18 | Buy |
| Exponential Moving Average (20) | 9190.51 | Buy |
| Simple Moving Average (20) | 9155.35 | Buy |
| Exponential Moving Average (30) | 9172.47 | Buy |
| Simple Moving Average (30) | 9130.88 | Buy |
| Exponential Moving Average (50) | 9169.64 | Buy |
| Simple Moving Average (50) | 9145.66 | Buy |
| Exponential Moving Average (100) | 9214.98 | Buy |
| Simple Moving Average (100) | 9221.94 | Buy |
| Exponential Moving Average (200) | 9251.35 | Sell |
| Simple Moving Average (200) | 9377.91 | Sell |
| Ichimoku Cloud Base Line (9, 26, 52, 26) | 9145.41 | Neutral |
| Volume Weighted Moving Average (20) | 9190.65 | Buy |
| Hull Moving Average (9) | 9298.20 | Sell |
Trade volume
Trade volume has been decreasing suggesting that the current downtrend is weak. The last candle had less volume than the moving average of the last 20 candles.
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