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 strong downtrend
- Price volatility was high. Market moved ~2.5%, between $9k and $9.23k
Today’s Trend analysis
- Downtrend to continue after rebound, RSI moving down is a bearish sign
- Price at time of publishing: $9,080
- BTC’s market cap: $167 Billion
- Oscillator indicators are mostly neutral. RSI at 33
- Moving average indicators are biased towards downtrend. Ichimoku Cloud is neutral
- Volume indicators are indicating continuation in downtrend as red candle see high volumes
Price expected to continue downtrend after a rebound as RSI trends down and bollinger band width expands indicating increased volatility. Most of the Oscillator indicators are neutral. MACD crossed below 0, increasing histogram is a bearish sign. RSI trends down and is around 33, which is a bearish sign. CCI is very negative -220 , in oversold region indicates a rebound. Another interesting point to notice here is that previous candle closed below bollinger band, indicating downtrend might continue.
Oscillator indicators
Most of the oscillators are neutral. CCI is very negative at -220, in oversold region. RSI trends down and at 22, which is a 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.
| Buy | Neutral | Sell |
| 2 | 7 | 2 |
| Name | Value | Action |
|---|---|---|
| Relative Strength Index (14) | 33.04 | Neutral |
| Stochastic %K (14, 3, 3) | 37.07 | Neutral |
| Commodity Channel Index (20) | −219.86 | Buy |
| Average Directional Index (14) | 19.74 | Neutral |
| Awesome Oscillator | −76.60 | Sell |
| Momentum (10) | −180.09 | Buy |
| MACD Level (12, 26) | −28.56 | Sell |
| Stochastic RSI Fast (3, 3, 14, 14) | 8.48 | Neutral |
| Williams Percent Range (14) | −75.09 | Neutral |
| Bull Bear Power | −214.21 | Neutral |
| Ultimate Oscillator (7, 14, 28) | 46.69 | Neutral |
Moving Average Indicators
Moving average (MA) indicator are biased towards a downtrend. 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 |
| 0 | 1 | 16 |
| Name | Value | Action |
|---|---|---|
| Exponential Moving Average (5) | 9142.68 | Sell |
| Simple Moving Average (5) | 9152.42 | Sell |
| Exponential Moving Average (10) | 9172.92 | Sell |
| Simple Moving Average (10) | 9188.28 | Sell |
| Exponential Moving Average (20) | 9200.49 | Sell |
| Simple Moving Average (20) | 9216.09 | Sell |
| Exponential Moving Average (30) | 9213.09 | Sell |
| Simple Moving Average (30) | 9225.66 | Sell |
| Exponential Moving Average (50) | 9221.19 | Sell |
| Simple Moving Average (50) | 9250.62 | Sell |
| Exponential Moving Average (100) | 9231.37 | Sell |
| Simple Moving Average (100) | 9204.78 | Sell |
| Exponential Moving Average (200) | 9249.17 | Sell |
| Simple Moving Average (200) | 9266.78 | Sell |
| Ichimoku Cloud Base Line (9, 26, 52, 26) | 9188.84 | Neutral |
| Volume Weighted Moving Average (20) | 9202.34 | Sell |
| Hull Moving Average (9) | 9122.07 | Sell |
Trade volume
Recent red candles saw high volumes indicating continuation in downtrend. Current volumes were above 20 candle moving average. Increasing volumes drived the market down suggesting a negative outlook.
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