This is #34 of BTCUSD 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 the remaining 11 are oscillators. These indicator values are calculated using 1 day candles.
You can find price analysis from previous days here.
Summary
Market
- As predicted, price is consolidating near $5,200
- Price at time of publishing: $5,350
- BTC’s market cap: $95 Billion
Trend analysis
We are entering consolidating region. Price should move in $4,500-$6,000 range for some time before we have strong forces to move it. Corona virus impact is still unpredictable.
Note: Below analysis would hold true if we do not encounter sudden jump in trade volume.
- Weak bearish today
- ‘Moving average‘ indicators are unanimously indicating downtrend
- ‘Oscillator‘ indicators are mostly neutral, with slight bias towards sell opportunity
Moving Average Indicators
The MAs are biased towards the recent market drop and hence are indicating a sell opportunity. Only Hull MA (9) is pointing towards buy. The gap between MAs and price is huge, pointing towards a unstable market.
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.
| Buy | Neutral | Sell |
| 2 | 1 | 14 |
| Name | Value | Action |
|---|---|---|
| Exponential Moving Average (5) | 5433.57 | Sell |
| Simple Moving Average (5) | 5237.43 | Buy |
| Exponential Moving Average (10) | 6025.68 | Sell |
| Simple Moving Average (10) | 6040.83 | Sell |
| Exponential Moving Average (20) | 6977.50 | Sell |
| Simple Moving Average (20) | 7387.15 | Sell |
| Exponential Moving Average (30) | 7528.01 | Sell |
| Simple Moving Average (30) | 8100.67 | Sell |
| Exponential Moving Average (50) | 8020.37 | Sell |
| Simple Moving Average (50) | 8762.27 | Sell |
| Exponential Moving Average (100) | 8308.98 | Sell |
| Simple Moving Average (100) | 8274.96 | Sell |
| Exponential Moving Average (200) | 8367.54 | Sell |
| Simple Moving Average (200) | 8487.71 | Sell |
| Ichimoku Cloud Base Line (9, 26, 52, 26) | 6938.83 | Neutral |
| Volume Weighted Moving Average (20) | 6054.10 | Sell |
| Hull Moving Average (9) | 4938.91 | Buy |
Oscillator indicators
Although most oscillators are still pointing to neutral, there are ‘sell’ signs too. RSI has move to oversold zone.
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 |
| 1 | 8 | 2 |
| Name | Value | Action |
|---|---|---|
| Relative Strength Index (14) | 28.93 | Buy |
| Stochastic %K (14, 3, 3) | 25.60 | Neutral |
| Commodity Channel Index (20) | −91.70 | Neutral |
| Average Directional Index (14) | 45.29 | Neutral |
| Awesome Oscillator | −3106.81 | Neutral |
| Momentum (10) | −2717.95 | Sell |
| MACD Level (12, 26) | −1089.21 | Sell |
| Stochastic RSI Fast (3, 3, 14, 14) | 35.83 | Neutral |
| Williams Percent Range (14) | −72.70 | Neutral |
| Bull Bear Power | −2266.07 | Neutral |
| Ultimate Oscillator (7, 14, 28) | 40.20 | Neutral |
Price Action
The price has been stable since yesterday, when post the volume jump, price was pulled down to $4,500 mark but soon was pushed back to $5,000 mark.
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