BTGBTC ends the day on a bearish note closing near the low of the day
BTGBTC ended Saturday at 0.00315 tanking BTC0.00025 (-7.35%) on low volume. This is the biggest single day loss in over three weeks. Today's closing price of 0.00315 marks the lowest close since Inception. The bears were in full control today, moving the market lower throughout the whole session. Closing below Friday's low at 0.00332, Gold confirms its breakout through the previous session's low having traded BTC0.00018 below it intraday. Ending with a weak close near the low of the day sets a bearish note for the next session.
Saturday's trading range was BTC0.00026 (7.67%), that's slightly above last trading month's daily average range of BTC0.00025. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being exactly the same as average.
Breaking below the key support level at 0.00329 today, it is now likely to act as resistance going forward.
The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.
Even though both sentiments are bearish for the next trading day, our quantitative statistics are only bearish while the classical technical analysis metrics show a very bearish sentiment.
Market Conditions for Bitcoin Gold/BTC Index
|Strong Up Move||TQ Pro Members Only|
|White Candle||TQ Pro Members Only|
|Very Strong Up Move||TQ Pro Members Only|
|Closed above last periods high||TQ Pro Members Only|
|Bearish Bounce off SMA 20||TQ Pro Members Only|
More market conditions identified for TQ Pro members...
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