DASHBTC falls to lowest close since February 27, 2017


Dash/BTC Index (DASHBTC) Technical Analysis Report for Aug 11, 2018 [< 1 min read]
Highlights
DASHBTC dominated by bears dragging the market lower throughout the day
DASHBTC closes lower for the 2nd day in a row
DASHBTC ends the day on a bearish note closing near the low of the day
DASHBTC breaks below previous session low
DASHBTC falls to lowest close since February 27, 2017
TQ Sentiment
Report Sentiment: 57% Bearish
Technical Forecast:
Overview

Moving lower for the 2nd day in a row, DASHBTC ended Saturday at 0.02684 losing BTC0.00067 (-2.44%) on low volume. Today's closing price of 0.02684 marks the lowest close since February 27, 2017. The bears were in full control today, moving the market lower throughout the whole session. Closing below Friday's low at 0.02735, the cryptocurrency confirms its breakout through the previous session's low having traded BTC0.00052 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 DASHBTC
Volatility

Saturday's trading range was BTC0.00062 (2.26%), that's far below last trading month's daily average range of BTC0.00145. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly below average.

Support/Resistance

Prices are trading close to the key resistance level at 0.02766.

Trend

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

Order Flow

Selling might accelerate should prices move below the nearby swing low at 0.02644 where further sell stops could get triggered.

Conclusion

Even though both sentiments are bearish for the next trading day, the classical technical analysis metrics are only slightly bearish while our quantitative statistics show a bearish sentiment.

Market Conditions for Dash/BTC Index
Condition Forecast Direction Win Avg Worst Best Events
Down Close Near Low of Period TQ Pro Members Only
Black Candle TQ Pro Members Only
High close to previous High TQ Pro Members Only
Close near low of period TQ Pro Members Only
More market conditions identified for TQ Pro members...
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