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.
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 sees support at 9150, CCI in oversold region
- Price at time of publishing: $9,180
- 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 indicating a downtrend with volumes seen on red candles
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.
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)||42.95||Neutral|
|Stochastic %K (14, 3, 3)||23.17||Neutral|
|Commodity Channel Index (20)||−117.06||Buy|
|Average Directional Index (14)||13.93||Neutral|
|MACD Level (12, 26)||−10.51||Sell|
|Stochastic RSI Fast (3, 3, 14, 14)||3.02||Neutral|
|Williams Percent Range (14)||−78.34||Neutral|
|Bull Bear Power||−88.92||Neutral|
|Ultimate Oscillator (7, 14, 28)||41.20||Neutral|
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)||9209.15||Sell|
|Simple Moving Average (5)||9208.91||Sell|
|Exponential Moving Average (10)||9227.42||Sell|
|Simple Moving Average (10)||9248.39||Sell|
|Exponential Moving Average (20)||9239.35||Sell|
|Simple Moving Average (20)||9241.71||Sell|
|Exponential Moving Average (30)||9242.00||Sell|
|Simple Moving Average (30)||9234.76||Sell|
|Exponential Moving Average (50)||9237.84||Sell|
|Simple Moving Average (50)||9268.05||Sell|
|Exponential Moving Average (100)||9240.51||Sell|
|Simple Moving Average (100)||9190.17||Sell|
|Exponential Moving Average (200)||9255.51||Sell|
|Simple Moving Average (200)||9282.83||Sell|
|Ichimoku Cloud Base Line (9, 26, 52, 26)||9202.16||Neutral|
|Volume Weighted Moving Average (20)||9239.32||Sell|
|Hull Moving Average (9)||9175.42||Buy|
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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