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.
Summary
Market in last 24 hrs
- BTCUSD price saw a gradual upward movement. Market moved ~550 points, between $9.2k and $9.8k
- Price at time of publishing: $9,750
- BTC’s market cap: $177 Billion
Today’s Trend analysis
Price should trend downwards today. Oscillators are neutral with a bias towards ‘sell’ side. MACD is at 140, far above 0. Both RSI and CCI are in over-bought zone, indicating that a downward momentum has built up.
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, with bias towards sell side. RSI crossing down 70
- ‘Moving average‘ indicators are indicating a uptrend. Ichimoku Cloud is neutral
Moving Average Indicators
Post yesterday’s uptrend, all moving average (MA) indicator are point towards an uptrend. MA values have been spread over a huge range as volatility has been very high in past few weeks. Ichimoku Cloud is neutral and Hull MA is indicating a buying 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.
| Buy | Neutral | Sell |
| 16 | 1 | 0 |
| Name | Value | Action |
|---|---|---|
| Exponential Moving Average (5) | 9537.08 | Buy |
| Simple Moving Average (5) | 9520.96 | Buy |
| Exponential Moving Average (10) | 9346.98 | Buy |
| Simple Moving Average (10) | 9275.13 | Buy |
| Exponential Moving Average (20) | 9188.54 | Buy |
| Simple Moving Average (20) | 9030.38 | Buy |
| Exponential Moving Average (30) | 9146.66 | Buy |
| Simple Moving Average (30) | 8978.77 | Buy |
| Exponential Moving Average (50) | 9090.93 | Buy |
| Simple Moving Average (50) | 9238.30 | Buy |
| Exponential Moving Average (100) | 8823.93 | Buy |
| Simple Moving Average (100) | 8958.44 | Buy |
| Exponential Moving Average (200) | 8325.59 | Buy |
| Simple Moving Average (200) | 8043.21 | Buy |
| Ichimoku Cloud Base Line (9, 26, 52, 26) | 9063.17 | Neutral |
| Volume Weighted Moving Average (20) | 9002.96 | Buy |
| Hull Moving Average (9) | 9736.85 | Buy |
Oscillator indicators
Many oscillator indicators have moved compared to yesterday. We can expect high volatility.
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.
| Buy | Neutral | Sell |
| 2 | 6 | 3 |
| Name | Value | Action |
|---|---|---|
| Relative Strength Index (14) | 70.38 | Sell |
| Stochastic %K (14, 3, 3) | 86.86 | Neutral |
| Commodity Channel Index (20) | 175.23 | Sell |
| Average Directional Index (14) | 27.08 | Neutral |
| Awesome Oscillator | 427.89 | Buy |
| Momentum (10) | 918.41 | Sell |
| MACD Level (12, 26) | 138.03 | Buy |
| Stochastic RSI Fast (3, 3, 14, 14) | 100.00 | Neutral |
| Williams Percent Range (14) | −15.41 | Neutral |
| Bull Bear Power | 713.18 | Neutral |
| Ultimate Oscillator (7, 14, 28) | 67.45 | Neutral |
What the price charts say…
Yesterday’s uptrend is not supported by strong increase in volume, hence we can expect a trend reversal today.
Halving is showing its impact on price volatility. 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.
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/
