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 blog here and on Tradingview here.
Analysis Summary
Market in last 24hrs
- As predicted in yesterday’s analysis BTCUSD price went slight downwards before continuing uptrend.
- Price volatility was decent. Market moved ~1.5%, between $9.2k and $9.32k
Today’s Trend analysis
- Uptrend to continue
- Price at time of publishing: $9,291
- BTC’s market cap: $171 Billion
- Oscillator indicators are mostly neutral. RSI at 60
- Moving average indicators are biased towards uptrend. Ichimoku Cloud is neutral
- Volume indicators are supporting a decent uptrend
Price expected to trend up with decent volumes. Most of the Oscillator indicators are neutral. MACD histogram became flat and unlikely to cross downwards. RSI moving sideways around 60 which is a weak bullish sign. CCI is trending down but above 60 which is bullish sign. Another interesting point to notice here is that previous big green candles saw good volumes when price was near bollinger mid line suggesting that price might stick above it.
Oscillator indicators
Most of the oscillators are neutral. CCI trending down but above 60 and RSI crossed moving sideways at 60 and both are weak bullish signs.
Definition:- Oscillator indicators are based on 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 |
| 1 | 9 | 1 |
| Name | Value | Action |
|---|---|---|
| Relative Strength Index (14) | 60.70 | Neutral |
| Stochastic %K (14, 3, 3) | 74.29 | Neutral |
| Commodity Channel Index (20) | 62.66 | Neutral |
| Average Directional Index (14) | 14.95 | Neutral |
| Awesome Oscillator | 110.94 | Neutral |
| Momentum (10) | 2.86 | Sell |
| MACD Level (12, 26) | 44.73 | Buy |
| Stochastic RSI Fast (3, 3, 14, 14) | 45.63 | Neutral |
| Williams Percent Range (14) | −28.65 | Neutral |
| Bull Bear Power | 22.41 | Neutral |
| Ultimate Oscillator (7, 14, 28) | 65.79 | Neutral |
Moving Average Indicators
Moving average (MA) indicator are biased towards an uptrend.. 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.
| Buy | Neutral | Sell |
| 15 | 1 | 1 |
| Name | Value | Action |
|---|---|---|
| Exponential Moving Average (5) | 9284.78 | Buy |
| Simple Moving Average (5) | 9276.42 | Buy |
| Exponential Moving Average (10) | 9268.91 | Buy |
| Simple Moving Average (10) | 9283.78 | Buy |
| Exponential Moving Average (20) | 9231.97 | Buy |
| Simple Moving Average (20) | 9209.76 | Buy |
| Exponential Moving Average (30) | 9208.59 | Buy |
| Simple Moving Average (30) | 9171.27 | Buy |
| Exponential Moving Average (50) | 9193.56 | Buy |
| Simple Moving Average (50) | 9163.56 | Buy |
| Exponential Moving Average (100) | 9222.51 | Buy |
| Simple Moving Average (100) | 9217.30 | Buy |
| Exponential Moving Average (200) | 9253.11 | Buy |
| Simple Moving Average (200) | 9363.84 | Sell |
| Ichimoku Cloud Base Line (9, 26, 52, 26) | 9145.41 | Neutral |
| Volume Weighted Moving Average (20) | 9231.56 | Buy |
| Hull Moving Average (9) | 9291.25 | Buy |
Trade volume
Trade volume was more than the 20 candle average volume for recent green candles indicating good buying pressure. Coming candles might see more spurt in volumes with price increase.
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