IOTBTC finds buyers around 0.0000867 for the third day in a row
IOTA/BTC Index (IOTBTC) Technical Analysis Report for Sep 15, 2018
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.
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.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bearish.
Market Conditions for IOTA/BTC Index
|Condition||Forecast||Direction||Direction||Win Rate||Win Rate||Exit Day||Exit Day||Events|
|Closed below last periods low||TQ Pro Members Only|
|High close to previous High||TQ Pro Members Only|
|High close to previous two Highs||TQ Pro Members Only|
|Close to Swing Low||TQ Pro Members Only|
|Close to S1 Support||TQ Pro Members Only|
More market conditions identified for TQ Pro members...
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