This is #13 of BTC/USD daily price analysis, provided by Mudrex. You can find the previous analysis here.
Summary
Market
- BTC/USD on a short term down-trend before price starts catching up again. This could be a good point to buy
- Price at time of publishing: $10133
- BTC’s market cap: $185 Billion
Trend analysis
As predicted yesterday, price saw minor correction. The correction should continue as some indicators are moving toward ‘sell’ side.
- Overall Strong bullish trend.
- ‘Moving average‘ indicators continue pointing up. Price should go up in long run ?
- ‘Oscillator‘ indicators are still mixed. Bearish divergence RSI suggests minor corrections should continue
Moving Averages
Most Moving averages are indicating ‘buy’ signal, confirming overall bullish trend.
| Buy | Neutral | Sell |
| 13 | 1 | 3 |
| Name | Value | Action |
| Exponential Moving Average (5) | 10152.25 | Sell |
| Simple Moving Average (5) | 10173.3 | Sell |
| Exponential Moving Average (10) | 9985.06 | Buy |
| Simple Moving Average (10) | 10014.08 | Buy |
| Exponential Moving Average (20) | 9642.91 | Buy |
| Simple Moving Average (20) | 9614.04 | Buy |
| Exponential Moving Average (30) | 9353.03 | Buy |
| Simple Moving Average (30) | 9288.66 | Buy |
| Exponential Moving Average (50) | 8954.49 | Buy |
| Simple Moving Average (50) | 8661.07 | Buy |
| Exponential Moving Average (100) | 8622.78 | Buy |
| Simple Moving Average (100) | 8156.1 | Buy |
| Exponential Moving Average (200) | 8467.04 | Buy |
| Simple Moving Average (200) | 8871.91 | Buy |
| Ichimoku Cloud Base Line (9, 26, 52, 26) | 9371.78 | Neutral |
| Volume Weighted Moving Average (20) | 9692.05 | Buy |
| Hull Moving Average (9) | 10343.17 | Sell |
Oscillators
Oscillators remain uncertain about the future. Though most are still neutral, some have moved to ‘sell’ side, indicating that we might see some choppiness and correction. Bearish divergence RSI suggests the same.
| Buy | Neutral | Sell |
| 1 | 8 | 2 |
| Name | Value | Action |
| Relative Strength Index (14) | 65.39 | Neutral |
| Stochastic %K (14, 3, 3) | 81.73 | Sell |
| Commodity Channel Index (20) | 87.45 | Neutral |
| Average Directional Index (14) | 43.21 | Neutral |
| Awesome Oscillator | 1022.12 | Neutral |
| Momentum (10) | 971.81 | Sell |
| MACD Level (12, 26) | 451.78 | Buy |
| Stochastic RSI Fast (3, 3, 14, 14) | 57.71 | Neutral |
| Williams Percent Range (14) | −26.33 | Neutral |
| Bull Bear Power | 645.02 | Neutral |
| Ultimate Oscillator (7, 14, 28) | 58.58 | Neutral |
Price Action
It was a bumpy day for Bitcoin with resistance at $10,100 holding strong. The sharp movements were accompanied by spike in trade volumes. Anything around $10,000 – $9,800 should be a good point to buy.
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