This is #20 of BTC/USD daily trend 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 remaining 11 are oscillators. These indicators values are calculated using 1 day candles.
You can find the analysis from previous days here.
Summary
Market
- As predicted, price is not moving in any particular direction yet
- After several failed attempts to breach the crucial 5 digit resistance mark, bitcoin price continues to move sideways with both bear and bulls showing equal forces
- Price at time of publishing: $9,755
- BTC’s market cap: $178 Billion
Trend analysis
Bitcoin price movement is not showing any hints yet. The market is expected to continue the choppy behavior as it has shown over the last couple of weeks.
- Choppy / Sideways
- ‘Moving average‘ indicators continue pointing up, specially the long term ones, hence price should go up in long run ?
- ‘Oscillator‘ indicators are mixed. MACD continues to predict downward momentum
Moving Average Indicators
MAs are shifting towards ‘buy’ signal, indicating the slight uptrend we have seen in last couple of months. Short terms MA’s are mixed, given the recent market movement has mostly been sideways.
| Buy | Neutral | Sell |
| 10 | 1 | 6 |
| Name | Value | Action |
|---|---|---|
| Exponential Moving Average (5) | 9797.11 | Sell |
| Simple Moving Average (5) | 9745.78 | Buy |
| Exponential Moving Average (10) | 9821.29 | Sell |
| Simple Moving Average (10) | 9805.64 | Sell |
| Exponential Moving Average (20) | 9747.32 | Buy |
| Simple Moving Average (20) | 9921.55 | Sell |
| Exponential Moving Average (30) | 9577.38 | Buy |
| Simple Moving Average (30) | 9685.70 | Buy |
| Exponential Moving Average (50) | 9239.70 | Buy |
| Simple Moving Average (50) | 9177.42 | Buy |
| Exponential Moving Average (100) | 8840.55 | Buy |
| Simple Moving Average (100) | 8262.19 | Buy |
| Exponential Moving Average (200) | 8596.41 | Buy |
| Simple Moving Average (200) | 8815.84 | Buy |
| Ichimoku Cloud Base Line (9, 26, 52, 26) | 9798.54 | Neutral |
| Volume Weighted Moving Average (20) | 9955.07 | Sell |
| Hull Moving Average (9) | 9776.85 | Sell |
Oscillator indicators
Most of the oscillators indicate a neutral momentum, i.e. no indication where the price will head. Choppy and sideways movement is expected to continue.
| Buy | Neutral | Sell |
| 1 | 9 | 1 |
| Name | Value | Action |
|---|---|---|
| Relative Strength Index (14) | 52.42 | Neutral |
| Stochastic %K (14, 3, 3) | 41.94 | Neutral |
| Commodity Channel Index (20) | −49.68 | Neutral |
| Average Directional Index (14) | 24.46 | Neutral |
| Awesome Oscillator | 199.25 | Neutral |
| Momentum (10) | −610.30 | Buy |
| MACD Level (12, 26) | 170.75 | Sell |
| Stochastic RSI Fast (3, 3, 14, 14) | 15.01 | Neutral |
| Williams Percent Range (14) | −61.54 | Neutral |
| Bull Bear Power | −21.70 | Neutral |
| Ultimate Oscillator (7, 14, 28) | 57.69 | Neutral |
Price Action
BTC/USD continues to oscillate in $10,500-$9,500 range with no clear direction. Indecisiveness in the market continues and the volatility has been low in Feb’20.
About Mudrex
Mudrex platform helps traders build no-code algo trading bots using Technical analysis based indicators.
Mudrex Marketplace is collection of reviewed and verified funds created by professional traders on Mudrex. Traders create these funds using their trading bots. Individual investors can invest in them for a monthly fee and gain the benefits of passive investing!
Signup today: https://mudrex.com/
