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 bounced and then continued downtrend as shown in last analysis.
- Price volatility was low. Market moved ~1.1%, between $9.05k and $9.1k
Today’s Trend analysis
- Expected Uptrend as RSI bounces
- Price at time of publishing: $9,102
- BTC’s market cap: $167 Billion
- Oscillator indicators are mostly neutral. RSI at 41
- Moving average indicators are biased towards downtrend. Ichimoku Cloud is neutral
- Volume indicators are indicating continuation in downtrend as price increase saw decreasing volume suggesting uptrend is not supported by volumes.
Price expected to continue downtrend as price increase were not supported by volume . Most of the Oscillator indicators are neutral. MACD is negative around -33, increasing histogram is a bearish sign. RSI bounced from 30, still below midline which is a weak bearish sign. CCI rose from oversold region, which is a neutral sign. Another interesting point to notice here is that in 1 hr candle we are seeing breakout after bollinger band squeeze.
Oscillator indicators
Most of the oscillators are neutral. CCI is negative at -73, in oversold region. RSI bounced from 30, which is a 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 |
| 0 | 9 | 2 |
| Name | Value | Action |
|---|---|---|
| Relative Strength Index (14) | 41.04 | Neutral |
| Stochastic %K (14, 3, 3) | 34.79 | Neutral |
| Commodity Channel Index (20) | −73.49 | Neutral |
| Average Directional Index (14) | 27.24 | Neutral |
| Awesome Oscillator | −92.51 | Neutral |
| Momentum (10) | −59.12 | Sell |
| MACD Level (12, 26) | −35.63 | Sell |
| Stochastic RSI Fast (3, 3, 14, 14) | 48.04 | Neutral |
| Williams Percent Range (14) | −59.36 | Neutral |
| Bull Bear Power | −71.88 | Neutral |
| Ultimate Oscillator (7, 14, 28) | 51.52 | 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.
| Buy | Neutral | Sell |
| 3 | 1 | 13 |
| Name | Value | Action |
|---|---|---|
| Exponential Moving Average (5) | 9115.85 | Buy |
| Simple Moving Average (5) | 9116.62 | Buy |
| Exponential Moving Average (10) | 9131.02 | Sell |
| Simple Moving Average (10) | 9125.75 | Sell |
| Exponential Moving Average (20) | 9160.83 | Sell |
| Simple Moving Average (20) | 9172.50 | Sell |
| Exponential Moving Average (30) | 9179.89 | Sell |
| Simple Moving Average (30) | 9200.13 | Sell |
| Exponential Moving Average (50) | 9197.93 | Sell |
| Simple Moving Average (50) | 9218.65 | Sell |
| Exponential Moving Average (100) | 9217.87 | Sell |
| Simple Moving Average (100) | 9202.08 | Sell |
| Exponential Moving Average (200) | 9241.18 | Sell |
| Simple Moving Average (200) | 9257.21 | Sell |
| Ichimoku Cloud Base Line (9, 26, 52, 26) | 9188.84 | Neutral |
| Volume Weighted Moving Average (20) | 9162.41 | Sell |
| Hull Moving Average (9) | 9112.60 | Buy |
Trade volume
Recent uptrend saw decreased volumes which suggests that the uptrend was not strong. In 1hr candle, price saw uptrend after bollinger band squeeze which is a bullish sign
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