Mudrex Price Analysis #85 Bitcoin (BTC/USD) – 26th May 2020

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.

Analysis Summary

Market in last 24 hrs

  • As predicted in the previous analysis, BTCUSD market consolidated. Market moved ~3%, between $8.7k and $9.0k
  • Price at time of publishing: $8,830
  • BTC’s market cap: $166 Billion

Today’s Trend analysis

Price expected to be move up today. Most of the Oscillator indicators are neutral. MACD histogram is now in positive zone. RSI and CCI are weakly trending up, currently at 40 and -70 and CCI has cross up -100, indicating that bears are loosing strength and trend reversal is around the corner. To add to this, price has bounce up from lower Bollinger Band. Price movement is expected to be choppy today before it starts moving up.

BTCUSD 4hr price chart via tradingview

Oscillator indicators

Most of the oscillators are neutral and some more have now flipped ot indicate the same. Momentum has built up and trend reversal is around the corner. Price is expected to be choppy today before it starts moving up.

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)48.04Neutral
Stochastic %K (14, 3, 3)23.25Neutral
Commodity Channel Index (20)−87.21Neutral
Average Directional Index (14)22.05Neutral
Awesome Oscillator114.91Neutral
Momentum (10)−573.61Buy
MACD Level (12, 26)154.17Sell
Stochastic RSI Fast (3, 3, 14, 14)7.30Neutral
Williams Percent Range (14)−86.12Neutral
Bull Bear Power−436.49Buy
Ultimate Oscillator (7, 14, 28)45.98Neutral

Moving Average Indicators

Most moving average (MA) indicator giving mixed signals. All short term MAs are pointing towards a downtrend and all long term MAs are pointing towards an uptrend. 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.

Exponential Moving Average (5)8959.01Sell
Simple Moving Average (5)8958.64Sell
Exponential Moving Average (10)9093.99Sell
Simple Moving Average (10)9254.54Sell
Exponential Moving Average (20)9062.16Sell
Simple Moving Average (20)9291.31Sell
Exponential Moving Average (30)8881.71Sell
Simple Moving Average (30)9086.74Sell
Exponential Moving Average (50)8557.23Buy
Simple Moving Average (50)8301.91Buy
Exponential Moving Average (100)8257.32Buy
Simple Moving Average (100)7915.44Buy
Exponential Moving Average (200)8199.22Buy
Simple Moving Average (200)8045.55Buy
Ichimoku Cloud Base Line (9, 26, 52, 26)9091.50Neutral
Volume Weighted Moving Average (20)9273.82Sell
Hull Moving Average (9)8707.14Buy

Trade volume

We did not observe any abnormal movement in trade volume yesterday.

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