Mudrex Price Analysis #117 Bitcoin (BTC/USD) – 14th 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 blog here and on Tradingview here.

Analysis Summary

Market in last 24hrs

  • BTCUSD saw a downtrend
  • Price volatility was high. Market moved ~2.5%, between $9.1k and $9.33k

Today’s Trend analysis

Price expected to take support from 9150 level and go up as it jumped from that level thrice . Most of the Oscillator indicators are neutral. MACD crosses down 0, downward histogram increasing in size, which is a bearish sign. RSI below midline around 40, which is a weak bearish sign. CCI crossed below -100 and is in oversold region, indicating a buying opportunity. Another interesting point to notice here is that if price drops below the support level then it can see a continued downward movement till 9k.

BTCUSD 4hr price chart via tradingview

Oscillator indicators

Most of the oscillators are neutral. CCI went below -100 in oversold region, which is a bullish sign. RSI below midline around 40, which is a weak bearish 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.

Relative Strength Index (14)42.95Neutral
Stochastic %K (14, 3, 3)23.17Neutral
Commodity Channel Index (20)−117.06Buy
Average Directional Index (14)13.93Neutral
Awesome Oscillator−42.28Sell
Momentum (10)−34.41Sell
MACD Level (12, 26)−10.51Sell
Stochastic RSI Fast (3, 3, 14, 14)3.02Neutral
Williams Percent Range (14)−78.34Neutral
Bull Bear Power−88.92Neutral
Ultimate Oscillator (7, 14, 28)41.20Neutral

Moving Average Indicators

Moving average (MA) indicator are biased 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)9209.15Sell
Simple Moving Average (5)9208.91Sell
Exponential Moving Average (10)9227.42Sell
Simple Moving Average (10)9248.39Sell
Exponential Moving Average (20)9239.35Sell
Simple Moving Average (20)9241.71Sell
Exponential Moving Average (30)9242.00Sell
Simple Moving Average (30)9234.76Sell
Exponential Moving Average (50)9237.84Sell
Simple Moving Average (50)9268.05Sell
Exponential Moving Average (100)9240.51Sell
Simple Moving Average (100)9190.17Sell
Exponential Moving Average (200)9255.51Sell
Simple Moving Average (200)9282.83Sell
Ichimoku Cloud Base Line (9, 26, 52, 26)9202.16Neutral
Volume Weighted Moving Average (20)9239.32Sell
Hull Moving Average (9)9175.42Buy

Trade volume

Trades volumes have increased in recent candles. While previous red candles saw high volume, more than the 20 candle moving average volume. Increasing volatility with high volumes indicate a big move coming!

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