ARDRBTC pushes through 20-day moving average


Ardor/Bitcoin Index (ARDRBTC) Technical Analysis Report for Oct 13, 2018 | by Techniquant Editorial Team

Highlights

ARDRBTC pushes through 20-day moving average
ARDRBTC finds buyers again around 0.00001762
ARDRBTC closes within previous day's range after lackluster session

Overview

ARDRBTC ended Saturday at 0.00001807 gaining BTC0.00000032 (1.8%). Closing within the prior day's range, prices missed to decisively move beyond the previous day's trading range in a lackluster session.

Daily Candlestick Chart (ARDRBTC as at Oct 13, 2018):

Daily technical analysis candlestick chart for Ardor/Bitcoin Index (ARDRBTC) as at Oct 13, 2018

Saturday's trading range has been BTC0.00000061 (3.43%), that's below the last trading month's daily average range of BTC0.00000111. Things look different on the weekly timeframe, where the market's trading range of the last week has been slightly above the market's average weekly trading range. The longer-term, monthly volatility is currently slightly lower than usual for ARDRBTC.

During the whole day, prices traded within the prior day's range, unable to trade above the previous day's high or below the prior day's low forming an Inside Bar.

The market managed to break above the 20-day moving average at 0.00001784 today. After having been unable to move lower than 0.00001753 in the previous session, ARDR/BTC found buyers again around the same price level today at 0.00001762. The last time this happened on October 8th, ARDRBTC gained 3.42% on the following trading day.

Although still in a long-term downtrend, the short and medium-term trends both turned bullish already.

Among the three market conditions that our pattern recognition engine identified today, the statistics for the Support/Resistance based market condition "Bullish Break through SMA 20" stand out. Though it is usually interpreted as bullish, it has actually shown to be bearish for ARDR/BTC. Out of 39 times, ARDRBTC closed lower 56.41% of the time on the next trading day after the market condition occurred.

With five out of the seven Major Cryptocurrencies closing higher today, the ones that stand out on the positive side are ETHUSD gaining 1.6% and EOSUSD closing 1.54% higher. On the flipside the worst performer has been XRPUSD closing -0.38% lower. Looking at the other Minor Cryptocurrencies, the winners of the day have been STEEMBTC surging 5.26% and SCBTC closing 4.08% higher. The worst performers of the day have been BCNUSD tanking -4.43% and BTGBTC closing -2.26% lower. Read more


Market Conditions for ARDRBTC as at Oct 13, 2018

Loading Market Conditions for ARDRBTC (Ardor/Bitcoin Index)...
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