BCNUSD finds buyers again around 0.001766
Bytecoin/US Dollar Index (BCNUSD) Technical Analysis Report for Aug 11, 2018 | by Techniquant Editorial Team
Moving lower for the 2nd day in a row, BCNUSD ended Saturday at 0.001766 losing $0.000078 (-4.23%) on low volume. Today's closing price of 0.001766 marks the lowest close since December 1, 2017. Trading $0.000061 higher after the open, BCN was unable to hold its gains as the bears took control ending the day below its opening price. Closing below Friday's low at 0.001783, the market confirms its breakout through the prior session's low having traded $0.000017 below it intraday. Ending with a weak close near the low of the day sets a bearish note for the next session.
Daily Candlestick Chart (BCNUSD as at Aug 11, 2018):
Saturday's trading range was $0.000122 (6.68%), that's slightly below last trading month's daily average range of $0.000145. Things look different on a weekly scale, where volatility is slightly above the markets average with the monthly volatility being slightly above average.
After having been unable to move lower than 0.001783 in the previous session, the cryptocurrency found buyers again around the same price level today at 0.001766.
The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.
With seven out of the seven Major Cryptocurrencies closing lower today, the ones that stand out on the negative side are XRPUSD losing -8.28% and ETCUSD closing -7.72% lower. None of the markets managed to end the day in the green. Looking at the other Minor Cryptocurrencies, the winners of the day have been BTCCNY surging 5.28% and WAVESBTC closing 1.9% higher. The worst performers of the day have been ELFBTC tanking -13.38% and IOTBTC closing -11.22% lower. Read more