This is #36 of 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 4 hr candles.
You can find price analysis from previous days here.
- As predicted, price broke above $6,000 level on Tuesday and since then has stayed close to $6,200
- Price at time of publishing: $6,110
- BTC’s market cap: $113 Billion
Price is consolidating again. As the Corona virus scare now seems to be contained, market is trying to push up again but the movement has not been supported by volume levels similar to what we had seen last week, hence the volatility currently is low. Not to forget that halving is inching closer and it will be interesting to see how this in combination with the current market state will impact the market in coming days.
Note: Below analysis would hold true if we do not encounter sudden jump in trade volume.
- Weak bullish today
- ‘Moving average‘ indicators are mixed. Price is now above EMA50
- ‘Oscillator‘ indicators are mostly neutral, with slight bias towards buy opportunity
Moving Average Indicators
MAs are mixed. All long and short term MAs are indicating sell opportunity but mid terms MAs are indicating buy 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.
|Exponential Moving Average (5)||6168.17||Sell|
|Simple Moving Average (5)||6171.37||Sell|
|Exponential Moving Average (10)||6162.89||Sell|
|Simple Moving Average (10)||6290.89||Sell|
|Exponential Moving Average (20)||6021.61||Buy|
|Simple Moving Average (20)||5997.71||Buy|
|Exponential Moving Average (30)||5941.11||Buy|
|Simple Moving Average (30)||5762.89||Buy|
|Exponential Moving Average (50)||6021.96||Buy|
|Simple Moving Average (50)||5565.32||Buy|
|Exponential Moving Average (100)||6614.00||Sell|
|Simple Moving Average (100)||6796.97||Sell|
|Exponential Moving Average (200)||7477.43||Sell|
|Simple Moving Average (200)||8030.18||Sell|
|Ichimoku Cloud Base Line (9, 26, 52, 26)||5990.69||Neutral|
|Volume Weighted Moving Average (20)||6045.88||Buy|
|Hull Moving Average (9)||6095.44||Sell|
Most oscillators are neutral, indicating no particular strong momentum. This is also confirmed by the fact that we have seen price consolidating or moving only slightly in the last coupe of days.
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.
|Relative Strength Index (14)||53.48||Neutral|
|Stochastic %K (14, 3, 3)||45.32||Neutral|
|Commodity Channel Index (20)||15.74||Neutral|
|Average Directional Index (14)||21.18||Neutral|
|MACD Level (12, 26)||177.35||Sell|
|Stochastic RSI Fast (3, 3, 14, 14)||11.75||Neutral|
|Williams Percent Range (14)||−66.62||Neutral|
|Bull Bear Power||65.00||Neutral|
|Ultimate Oscillator (7, 14, 28)||54.41||Neutral|
The price has been stable since yesterday, with no volume jumps.
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