IOTBTC finds buyers around 0.0000867 for the third day in a row


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

Highlights

IOTBTC finds buyers around 0.0000867 for the third day in a row
IOTBTC closes within previous day's range after lackluster session
IOTBTC ends the day indecisive

Overview

IOTBTC ended Saturday at 0.0000881 flat on low volume. Closing within the previous day's range, prices failed to decisively move past the prior day's trading range in a lackluster session. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

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

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

Saturday's trading range was BTC0.0000036 (4.1%), that's far below last trading month's daily average range of BTC0.0000080. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly below average.

During the whole day, prices traded within the previous day's range, unable to trade above the prior day's high or below the previous day's low forming an Inside Bar.

IOT found buyers again today around 0.0000867 for the third trading day in a row after having found demand at 0.0000861 in the prior session and at 0.0000858 two days ago.

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

Buying could accelerate should prices move above the nearby swing high at 0.0000934 where further buy stops might get activated. Selling could speed up should prices move below the close-by swing low at 0.0000808 where further sell stops might get triggered.

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 IOTBTC as at Sep 15, 2018

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