BTGUSD dominated by bears dragging the market lower throughout the day
Moving lower for the 2nd day in a row, BTGUSD ended Saturday at 19.27 losing $1.53 (-7.36%) on low volume. Today's closing price of 19.27 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 20.56, BTG/USD confirms its breakout through the previous session's low having traded $1.29 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 $1.66 (7.97%), that's below last trading month's daily average range of $2.32. Things look different on a weekly scale, where volatility is slightly above the markets average with the monthly volatility being exactly the same as average.
Breaking below the key support level at 20.23 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.
Both sentiments, the classical technical analysis and our quantitative statistics are in perfect alignment today showing a bearish sentiment for the next trading day.
Market Conditions for Bitcoin Gold/USD Index
|2 Consecutive Higher Closes||TQ Pro Members Only|
|High close to previous High||TQ Pro Members Only|
|High close to previous two Highs||TQ Pro Members Only|
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