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
- BTCUSD saw a big downtrend
- Price volatility was high. Market moved ~3.3%, between $9.1k and $9.43k
Today’s Trend analysis
- Downtrend to continue, expected to remain in bollinger band’s range
- Price at time of publishing: $9,172
- BTC’s market cap: $169 Billion
- Oscillator indicators are mostly neutral. RSI at 42
- Moving average indicators are biased towards downtrend. Ichimoku Cloud is neutral
- Volume indicators are supporting downtrend
Price expected to continue downtrend as indicators turn negatice. Most of the Oscillator indicators are neutral. MACD crosses down 0, histogram decreasing in size, which is a bearish sign. RSI below midline around 40, further down move can bring it in overbought zone. CCI crossed below -100 which is a weak bullish sign. Another interesting point to notice here is that price bounced twice from lower bollinger band, creating candle low’s there. It suggests price might remain inside bollinger for the coming day.
Oscillator indicators
Most of the oscillators are neutral. CCI went below -100, which is a weak bullish sign. RSI below midline and around 40, further down move can lead to RSI in overbought zone below 30.
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 | 7 | 3 |
| Name | Value | Action |
|---|---|---|
| Relative Strength Index (14) | 42.94 | Neutral |
| Stochastic %K (14, 3, 3) | 23.60 | Neutral |
| Commodity Channel Index (20) | −101.08 | Buy |
| Average Directional Index (14) | 21.16 | Neutral |
| Awesome Oscillator | −39.06 | Sell |
| Momentum (10) | −251.99 | Sell |
| MACD Level (12, 26) | −0.98 | Sell |
| Stochastic RSI Fast (3, 3, 14, 14) | 5.92 | Neutral |
| Williams Percent Range (14) | −69.60 | Neutral |
| Bull Bear Power | −174.43 | Neutral |
| Ultimate Oscillator (7, 14, 28) | 49.25 | Neutral |
Moving Average Indicators
Moving average (MA) indicator are biased towards an 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.
| Buy | Neutral | Sell |
| 1 | 1 | 15 |
| Name | Value | Action |
|---|---|---|
| Exponential Moving Average (5) | 9207.09 | Sell |
| Simple Moving Average (5) | 9200.15 | Sell |
| Exponential Moving Average (10) | 9246.89 | Sell |
| Simple Moving Average (10) | 9283.75 | Sell |
| Exponential Moving Average (20) | 9261.48 | Sell |
| Simple Moving Average (20) | 9294.63 | Sell |
| Exponential Moving Average (30) | 9250.79 | Sell |
| Simple Moving Average (30) | 9259.52 | Sell |
| Exponential Moving Average (50) | 9231.98 | Sell |
| Simple Moving Average (50) | 9194.48 | Sell |
| Exponential Moving Average (100) | 9239.31 | Sell |
| Simple Moving Average (100) | 9188.43 | Sell |
| Exponential Moving Average (200) | 9258.94 | Sell |
| Simple Moving Average (200) | 9341.74 | Sell |
| Ichimoku Cloud Base Line (9, 26, 52, 26) | 9266.36 | Neutral |
| Volume Weighted Moving Average (20) | 9294.52 | Sell |
| Hull Moving Average (9) | 9145.25 | Buy |
Trade volume
Previous red candles saw huge volumes, A mutli-time frame analysis on 1hr candles show that majority of the volumes seen on 4hr candles were concentrated on red candles suggesting a strong downtrend.
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