ICXBTC closes within previous day's range

ICON/Bitcoin Index (ICXBTC) Technical Analysis Report for Nov 22, 2020 | by Techniquant Editorial Team


ICXBTC closes within previous day's range


ICXBTC ended Sunday at 0.0000212 losing BTC0.0000005 (-2.3%) on high volume. Closing within the previous day's range, prices failed to decisively move beyond the prior day's trading range.

Daily Candlestick Chart (ICXBTC as at Nov 22, 2020):

Daily technical analysis candlestick chart for ICON/Bitcoin Index (ICXBTC) as at Nov 22, 2020

Sunday's trading range has been BTC0.0000014 (6.45%), that's slightly below the last trading month's daily average range of BTC0.0000015. Weekly volatility is also lower, being slightly below the market's average weekly trading range. The longer-term, monthly volatility is currently slightly lower than usual for ICXBTC.

After moving higher in the previous session, the cryptocurrency closed lower but above the prior day's open today, forming a bearish Harami Candle. The last time this candlestick pattern showed up on November 11th, ICXBTC lost -3.45% on the following trading day.

Prices are trading close to the key technical support level at 0.0000201 (S1).

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

Market Conditions for ICXBTC as at Nov 22, 2020

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