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 1D candles.
You can find price analysis from previous days on blog here and on Tradingview here.
Analysis Summary
Market in last 1 week
- BTCUSD saw an uptrend after rejecting from Upper Bollinger Band at $12.13k
- Price volatility was very high. Market moved ~15.06%, between $12.13k and $10.55k
Today’s Trend analysis
- BTCUSD expected to see a continued uptrend as higher lows observed in recent candles
- Price at time of publishing: $11,711
- BTC’s market cap: $216 Billion
- Oscillator indicators are mostly neutral. RSI at 69
- Moving average indicators are biased towards an uptrend. Ichimoku Cloud is neutral
- Volume indicators indicated increase in volume in recent red candles i.e. when the price was falling indicating a strong selling pressure
Price expected to see a continued uptrend as higher lows have been observed. Most of the Oscillator indicators are neutral. MACD histogram size increasing in the positive region. RSI at 69, close to the overbought region indicating a bullish bias. CCI is around 77, and in neutral region trending down, decreased from 388 to 77. Another interesting point to notice here is that higher lows have been observed with the volume being more than 20-candle moving average in recent candles.
Oscillator indicators
Most of the oscillators are neutral. CCI is around 77, in the neutral region. RSI close to the overbought region around 69.
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.
| Sell | Neutral | Buy |
| 0 | 8 | 3 |
| Name | Value | Action |
|---|---|---|
| Relative Strength Index (14) | 69.16 | Neutral |
| Stochastic %K (14, 3, 3) | 83.57 | Neutral |
| Commodity Channel Index (20) | 77.09 | Neutral |
| Average Directional Index (14) | 40.70 | Neutral |
| Awesome Oscillator | 1458.11 | Buy |
| Momentum (10) | 566.67 | Buy |
| MACD Level (12, 26) | 587.20 | Buy |
| Stochastic RSI Fast (3, 3, 14, 14) | 28.89 | Neutral |
| Williams Percent Range (14) | −17.28 | Neutral |
| Bull Bear Power | 923.54 | Neutral |
| Ultimate Oscillator (7, 14, 28) | 56.58 | Neutral |
Moving Average Indicators
Moving average (MA) indicators are biased towards an uptrend. 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.
| Sell | Neutral | Buy |
| 1 | 1 | 15 |
| Name | Value | Action |
|---|---|---|
| Exponential Moving Average (5) | 11588.61 | Buy |
| Simple Moving Average (5) | 11599.29 | Buy |
| Exponential Moving Average (10) | 11364.16 | Buy |
| Simple Moving Average (10) | 11459.08 | Buy |
| Exponential Moving Average (20) | 10889.72 | Buy |
| Simple Moving Average (20) | 10730.07 | Buy |
| Exponential Moving Average (30) | 10556.90 | Buy |
| Simple Moving Average (30) | 10226.10 | Buy |
| Exponential Moving Average (50) | 10148.37 | Buy |
| Simple Moving Average (50) | 9834.85 | Buy |
| Exponential Moving Average (100) | 9581.19 | Buy |
| Simple Moving Average (100) | 9610.81 | Buy |
| Exponential Moving Average (200) | 9063.29 | Buy |
| Simple Moving Average (200) | 8795.31 | Buy |
| Ichimoku Cloud Base Line (9, 26, 52, 26) | 10563.26 | Neutral |
| Volume Weighted Moving Average (20) | 10876.45 | Buy |
| Hull Moving Average (9) | 11784.96 | Sell |
Trade volume
In the last few red candles there was an increase in volume observed i.e. when the price was falling indicating a strong selling pressure. The volume was lesser than 20-candle moving average in the last few candles. Volume decreased from 28k to 5.4k with the 20-candle average increasing from 13k to 15k.
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