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

IOTA/BTC Index (IOTBTC) Technical Analysis Report for Sep 15, 2018

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

TQ Sentiment

Report Sentiment: 16% Bullish
Technical Forecast:

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 chart for IOTBTC

Volatility

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.

Price Action

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.

Support/Resistance

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.

Trend

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

Order Flow

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.

Conclusion

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 Win Rate 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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Latest Report:

IOTBTC breaks below previous session low

Sep 17, 2018
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