BTGBTC ends the day on a bearish note closing near the low of the day


Bitcoin Gold/BTC Index (BTGBTC) Technical Analysis Report for Aug 11, 2018 [< 1 min read]
Highlights
BTGBTC crashes, loses BTC0.00025 (-7.35%) within a single day
BTGBTC breaks key support level
BTGBTC dominated by bears dragging the market lower throughout the day
BTGBTC ends the day on a bearish note closing near the low of the day
BTGBTC breaks below previous session low
TQ Sentiment
Report Sentiment: 83% Bearish
Technical Forecast:
Overview

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.

Daily chart for BTGBTC
Volatility

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.

Support/Resistance

Breaking below the key support level at 0.00329 today, it is now likely to act as resistance going forward.

Trend

The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.

Conclusion

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
Condition Forecast Direction Win Avg Worst Best Events
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...
Learn more about TQ Pro
Latest Report:

BTGBTC rockets 14.13% on high volume

Aug 17, 2018
Trending Assets

Upgrade your trading!

Get the stats behind the charts

Find out what happened when Bitcoin Gold/BTC Index traded like this in the past. See the odds for each technical pattern with expected gain and loss.

Signup
Crypto Currencies Top Movers
ETHUSD 313.2627.54 9.64%
BTCUSD 6,552.78258.70 4.11%
NATGAS 2.9440.033 1.13%
GOLD 1,191.810.8 0.91%
CRUDE 65.200.47 0.73%
CAC 5,344.93-4.09 -0.08%
DAX 12,210.55-26.62 -0.22%
USDJPY 110.50-0.40 -0.36%
DXY 95.980-0.555 -0.57%
Start your day with the facts moving the markets
By clicking "Subscribe", you agree to our terms and privacy policy.

Related Crypto Currencies

ETHUSD 10 day candlestick chart for ETHUSD313.26 27.54
9.64%
BTCEUR 10 day candlestick chart for BTCEUR5,727.69 192.77
3.48%
BTCJPY 10 day candlestick chart for BTCJPY725,014.32 25,509.98
3.65%
BTCCNY 10 day candlestick chart for BTCCNY45,200.00 317.02
0.71%
ETHEUR 10 day candlestick chart for ETHEUR274.21 22.88
9.10%
ETHJPY 10 day candlestick chart for ETHJPY34,843.64 3,102.29
9.77%
ETHCNY 10 day candlestick chart for ETHCNY2,163.27 125.58
6.16%
BTCGBP 10 day candlestick chart for BTCGBP5,143.72 194.82
3.94%
ETHGBP 10 day candlestick chart for ETHGBP246.18 21.50
9.57%
BTCUSD 10 day candlestick chart for BTCUSD6,552.78 258.70
4.11%