This is #18 of BTC/USD daily trend analysis, provided by Mudrex (nocode trading bot). This analysis is based on signals from 28 technical indicators, out of which 17 are moving averages and remaining 11 are oscillators. These indicators values are calculated using 1 day candles.
You can find the previous day’s analysis here.
Summary
Market
- Yesterday marked BTC/USD pairs’s 5th largest hourly price drop in its history. A ~$1000 drop in under an hour. The only other time we’ve seen a greater dollar price drop was at Dec’2017 peak
- Price at time of publishing: $9,615
- BTC’s market cap: $175 Billion
Trend analysis
Bitcoin price trend is now neutral, indicating movement in no clear direction in recent past. Price has been confined between $10,500-$9,500 in Feb’20.
Momentum is still weak and there are no clear indication where the price is headed.
Indicators continue to represent the indecisiveness in the market and price is expected to continue the choppy behavior as it has shown over the last couple of weeks.
- Neutral / Choppy
- Short term ‘Moving average‘ indicators have again flipped to ‘sell’ side given the sudden movement yesterday
- ‘Oscillator‘ indicators remain neutral, with MACD indicating a sell opportunity
Moving Average Indicators
Overall trend has been become neutral now given the choppy price action this month. After the recent downward movement, all short term indicators have flipped to ‘sell’ side.
| Buy | Neutral | Sell |
| 8 | 1 | 8 |
| Name | Value | Action |
|---|---|---|
| Exponential Moving Average (5) | 9792.54 | Sell |
| Simple Moving Average (5) | 9807.85 | Sell |
| Exponential Moving Average (10) | 9860.06 | Sell |
| Simple Moving Average (10) | 10018.29 | Sell |
| Exponential Moving Average (20) | 9729.03 | Sell |
| Simple Moving Average (20) | 9823.22 | Sell |
| Exponential Moving Average (30) | 9514.66 | Buy |
| Simple Moving Average (30) | 9508.93 | Buy |
| Exponential Moving Average (50) | 9145.78 | Buy |
| Simple Moving Average (50) | 8974.80 | Buy |
| Exponential Moving Average (100) | 8762.33 | Buy |
| Simple Moving Average (100) | 8214.30 | Buy |
| Exponential Moving Average (200) | 8548.15 | Buy |
| Simple Moving Average (200) | 8855.75 | Buy |
| Ichimoku Cloud Base Line (9, 26, 52, 26) | 9400.29 | Neutral |
| Volume Weighted Moving Average (20) | 9906.22 | Sell |
| Hull Moving Average (9) | 9677.44 | Sell |
Oscillator indicators
Oscillators remain uncertain about the future price, indicating the lack of a clear momentum in the market.
| Buy | Neutral | Sell |
| 1 | 8 | 2 |
| Name | Value | Action |
|---|---|---|
| Relative Strength Index (14) | 50.61 | Neutral |
| Stochastic %K (14, 3, 3) | 42.45 | Neutral |
| Commodity Channel Index (20) | −46.64 | Neutral |
| Average Directional Index (14) | 29.86 | Neutral |
| Awesome Oscillator | 384.86 | Neutral |
| Momentum (10) | −244.95 | Sell |
| MACD Level (12, 26) | 249.65 | Sell |
| Stochastic RSI Fast (3, 3, 14, 14) | 12.59 | Neutral |
| Williams Percent Range (14) | −73.55 | Neutral |
| Bull Bear Power | −544.74 | Buy |
| Ultimate Oscillator (7, 14, 28) | 55.30 | Neutral |
Price Action
BTC/USD continues to oscillate in $10,500-$9,500 range with no clear direction. Overall the volatility has been low in Feb’20.
If you are not a skilled trader or a long holder with strong convictions, market conditions like these can shake you out pretty easily. This usually happens time to time. Do not panic and stay focused.
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