ICXBTC closes above its opening price after recovering from early selling pressure

ICON/Bitcoin Index (ICXBTC) Technical Analysis Report for Sep 15, 2018 | by Techniquant Editorial Team


ICXBTC closes above its opening price after recovering from early selling pressure
ICXBTC finds buyers at key support level
ICXBTC closes higher for the 3rd day in a row
ICXBTC closes within previous day's range
ICXBTC ends the day indecisive


Moving higher for the 3rd day in a row, ICXBTC finished Saturday at 0.0000900 gaining BTC0.0000016 (1.81%). Trading up to BTC0.0000126 lower after the open, Icon managed to reverse during the session as bulls took control ending the day above its opening price. Closing within the prior day's range, prices failed to decisively move beyond the previous day's trading range. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily Candlestick Chart (ICXBTC as at Sep 15, 2018):

Daily technical analysis candlestick chart for ICON/Bitcoin Index (ICXBTC) as at Sep 15, 2018

Saturday's trading range was BTC0.0000271 (30.87%), that's slightly above last trading month's daily average range of BTC0.0000253. Things look different on a weekly scale, where volatility is way below the markets average with the monthly volatility being exactly the same as average.

In a volatile session, prices traded above the prior day's high as well as below the previous day's low, forming a bullish Outside Bar.

After trading as low as 0.0000752 during the day, ICX/BTC bounced off the key support level at 0.0000767. The failure to close below the support might increase that levels importance as support going forward.

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

With six out of the seven Major Cryptocurrencies closing higher today, the ones that stand out on the positive side are ETHUSD gaining 6.08% and ETCUSD closing 3.28% higher. On the flipside the worst performer has been LTCUSD closing -0.21% lower. Looking at the other Minor Cryptocurrencies, the winners of the day have been ETHCNY surging 11.52% and KCSBTC closing 6.75% higher. The worst performers of the day have been ETHGBP tanking -8.43% and NANOBTC closing -5.24% lower. Read more

Market Conditions for ICXBTC as at Sep 15, 2018

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