This is BTCUSD daily price analysis (Bitcoin 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 Tradingview.
Analysis Summary
Market in the last 24hrs
- As predicted at yesterday’s analysis BTCUSD price continued its uptrend with good volumes
- Price volatility was high. The market moved ~2.5%, between $9.2k and $9.46k
Today’s Trend analysis
- Uptrend to continue might see low volatility ahead
- Price at time of publishing: $9,394
- BTC’s market cap: $172 Billion
- Oscillator indicators are mostly neutral. RSI at 58
- Moving average indicators are biased towards an uptrend. Ichimoku Cloud is neutral
- Volume indicators are supporting the continuation of the uptrend.
Price expected to continue uptrend with chances of consolidation. Most of the Oscillator indicators are neutral. MACD histogram rose but histogram length is less than previous uptrend suggesting trend might see some halt. RSI moving sideways around 60 which is a weak bullish sign. CCI near 50 after crossing 100 once which is a bullish sign. Another interesting point to notice here is that as Bollinger band is squeezing, we might see low volatility ahead.
Oscillator indicators
Most of the oscillators are neutral. CCI went above 100 but back to 50 now. RSI briefly went above 70 before coming back to 58, which is a weak bullish sign
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 |
| 2 | 9 | 0 |
| Name | Value | Action |
|---|---|---|
| Relative Strength Index (14) | 58.90 | Neutral |
| Stochastic %K (14, 3, 3) | 65.39 | Neutral |
| Commodity Channel Index (20) | 50.24 | Neutral |
| Average Directional Index (14) | 19.12 | Neutral |
| Awesome Oscillator | 197.96 | Neutral |
| Momentum (10) | 119.75 | Buy |
| MACD Level (12, 26) | 63.59 | Buy |
| Stochastic RSI Fast (3, 3, 14, 14) | 42.64 | Neutral |
| Williams Percent Range (14) | −43.39 | Neutral |
| Bull Bear Power | 69.72 | Neutral |
| Ultimate Oscillator (7, 14, 28) | 59.38 | 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) | 9381.98 | Sell |
| Simple Moving Average (5) | 9404.44 | Sell |
| Exponential Moving Average (10) | 9360.33 | Sell |
| Simple Moving Average (10) | 9359.12 | Sell |
| Exponential Moving Average (20) | 9309.54 | Buy |
| Simple Moving Average (20) | 9315.76 | Buy |
| Exponential Moving Average (30) | 9273.43 | Buy |
| Simple Moving Average (30) | 9236.82 | Buy |
| Exponential Moving Average (50) | 9238.97 | Buy |
| Simple Moving Average (50) | 9195.32 | Buy |
| Exponential Moving Average (100) | 9243.40 | Buy |
| Simple Moving Average (100) | 9215.76 | Buy |
| Exponential Moving Average (200) | 9262.10 | Buy |
| Simple Moving Average (200) | 9355.29 | Buy |
| Ichimoku Cloud Base Line (9, 26, 52, 26) | 9192.29 | Neutral |
| Volume Weighted Moving Average (20) | 9316.43 | Buy |
| Hull Moving Average (9) | 9411.24 | Sell |
Trade volume
Previous volume saw huge volumes, more than the previous uptrend which is a bullish sign. recent candles saw low volume which were less than the 20 candle average volume suggesting we might see consolidation and low volatility ahead.
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