This is 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.
Market in last 24 hrs
- BTCUSD price saw a sudden downward trend after volume surge. Overall market moved 15%, between $8.1k and $9.8k
- Price at time of publishing: $8,870
- BTC’s market cap: $165 Billion
Today’s Trend analysis
Price should trend downwards today. Oscillators are neutral but compared to yesterday many have now flipped to indicate downward momentum. MACD is at -170, far below 0 and RSI & CCI are in below neutral zone, indicating that bears have gained strength.
Another interesting point to notice is the affect of Halving-Hype and the impact of the same on BTC and other Crypto tokens. We are observing an increased trade volume and price volatility.
- Downwards today
- ‘Oscillator‘ indicators are mostly neutral. RSI is at 43
- ‘Moving average‘ indicators indicating buying opportunity. Ichimoku Cloud is neutral
Moving Average Indicators
Moving average indicator values have been spread over a huge range as volatility has been very high in past few weeks. All long term MAs are indicating a buying opportunity. Ichimoku Cloud is neutral and Hull MA is indicating a selling 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)||8837.28||Buy|
|Simple Moving Average (5)||8813.10||Buy|
|Exponential Moving Average (10)||8887.51||Sell|
|Simple Moving Average (10)||8753.39||Buy|
|Exponential Moving Average (20)||9044.99||Sell|
|Simple Moving Average (20)||9199.07||Sell|
|Exponential Moving Average (30)||9105.46||Sell|
|Simple Moving Average (30)||9337.24||Sell|
|Exponential Moving Average (50)||9061.21||Sell|
|Simple Moving Average (50)||9177.26||Sell|
|Exponential Moving Average (100)||8717.13||Buy|
|Simple Moving Average (100)||8717.09||Buy|
|Exponential Moving Average (200)||8187.49||Buy|
|Simple Moving Average (200)||7880.86||Buy|
|Ichimoku Cloud Base Line (9, 26, 52, 26)||9091.50||Neutral|
|Volume Weighted Moving Average (20)||9069.22||Sell|
|Hull Moving Average (9)||8921.76||Sell|
Oscillators are mostly neutral today and many have flipped to indicate downward momentum. Bears have gained strength.
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. RSI is above 50 and MACD is pointing towards a buy opportunity.
|Relative Strength Index (14)||43.37||Neutral|
|Stochastic %K (14, 3, 3)||45.91||Neutral|
|Commodity Channel Index (20)||−44.43||Neutral|
|Average Directional Index (14)||37.10||Neutral|
|MACD Level (12, 26)||−166.95||Sell|
|Stochastic RSI Fast (3, 3, 14, 14)||48.58||Neutral|
|Williams Percent Range (14)||−55.28||Neutral|
|Bull Bear Power||−151.75||Neutral|
|Ultimate Oscillator (7, 14, 28)||54.46||Neutral|
What the price charts say…
Volume and price volatility currently is very high. Halving, which is due any-day now, is showing its impact and the volatility currently is high from last few weeks. There have been many unpredictable volume bumps, which coincide with drastic change in price. Bitcoin continues to be very volatile, hence investors should be cautious.
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