ELFBTC ends the day on a bearish note closing near the low of the day
Moving lower for the 3rd day in a row, ELFBTC ended Saturday at 0.00006422 tanking BTC0.00000992 (-13.38%). This is the biggest single day loss in over three weeks. Today's closing price of 0.00006422 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 0.00007336, the market confirms its breakout through the previous session's low having traded BTC0.00001014 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 BTC0.00001085 (14.65%), that's far above last trading month's daily average range of BTC0.00000668. Weekly volatility is also higher, being slightly above the markets average with the monthly volatility being exactly the same as average.
Breaking below the key support level at 0.00006556 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.
With prices trading close to this year's low at 0.00005845, downside momentum could accelerate should Aelf break out to new lows for the year.
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 Aelf/BTC Index
|Bullish Engulfing Candle||TQ Pro Members Only|
|White Candle||TQ Pro Members Only|
|Low close to previous low||TQ Pro Members Only|
|Bearish Hikkake Pattern||TQ Pro Members Only|
|Close to Swing Low||TQ Pro Members Only|
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