This is #23 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 price analysis from previous days here.
Summary
Market
- BTC price breached $9,000 mark
- Price at time of publishing: $8,800
- BTC’s market cap: $161 Billion
Trend analysis
Bitcoin price trend has now confirmed a downtrend and is also supported by momentum, hence we can expect the price to move down further in coming days.
- Downtrend expected ?
- ‘Moving average‘ indicators are indicating a downtrend. 100-dMA was breached. Price currently at 200-dMA
- ‘Oscillator‘ indicators are mostly neutral with strong bias toward sell side. MACD continues to predict downward momentum
Moving Average Indicators
MAs are signaling a downward movement. Bitcoin price has breached all major dMA marks.
Definition:- Moving Average indicators are lagging indicators which help us catch trends when they are beginning to take effective. Idea is to buy when the trend is moving up and sell when the trend is falling.
| Buy | Neutral | Sell |
| 2 | 1 | 14 |
| Name | Value | Action |
|---|---|---|
| Exponential Moving Average (5) | 9148.48 | Sell |
| Simple Moving Average (5) | 9301.66 | Sell |
| Exponential Moving Average (10) | 9404.26 | Sell |
| Simple Moving Average (10) | 9528.28 | Sell |
| Exponential Moving Average (20) | 9530.45 | Sell |
| Simple Moving Average (20) | 9800.32 | Sell |
| Exponential Moving Average (30) | 9457.29 | Sell |
| Simple Moving Average (30) | 9681.84 | Sell |
| Exponential Moving Average (50) | 9203.35 | Sell |
| Simple Moving Average (50) | 9233.53 | Sell |
| Exponential Moving Average (100) | 8845.21 | Sell |
| Simple Moving Average (100) | 8281.93 | Buy |
| Exponential Moving Average (200) | 8606.03 | Buy |
| Simple Moving Average (200) | 8776.34 | Sell |
| Ichimoku Cloud Base Line (9, 26, 52, 26) | 9518.60 | Neutral |
| Volume Weighted Moving Average (20) | 9805.91 | Sell |
| Hull Moving Average (9) | 8901.93 | Sell |
Oscillator indicators
Many oscillators continue to indicate a neutral momentum, but the bias towards sell side is increasing and we can clearly imply a downward momentum.
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 |
| 2 | 6 | 3 |
| Name | Value | Action |
|---|---|---|
| Relative Strength Index (14) | 37.98 | Neutral |
| Stochastic %K (14, 3, 3) | 8.99 | Neutral |
| Commodity Channel Index (20) | −202.47 | Buy |
| Average Directional Index (14) | 23.50 | Neutral |
| Awesome Oscillator | −202.81 | Sell |
| Momentum (10) | −931.36 | Sell |
| MACD Level (12, 26) | −39.12 | Sell |
| Stochastic RSI Fast (3, 3, 14, 14) | 0.00 | Neutral |
| Williams Percent Range (14) | −86.51 | Buy |
| Bull Bear Power | −1587.64 | Neutral |
| Ultimate Oscillator (7, 14, 28) | 46.19 | Neutral |
Price Action
BTC/USD price continued to move down to touch ~$8,500 mark. We saw a spike a in trade volume on Bitmex where Bitcoin worth $150 million was sold in the market yesterday.
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/
