KMDBTC pops to highest close since September 10th
Komodo/BTC Index (KMDBTC) Technical Analysis Report for Sep 15, 2018
KMDBTC ended Saturday at 0.0001603 gaining BTC0.0000039 (2.49%). Today's closing price of 0.0001603 marks the highest close since September 10th. Closing within the prior day's range, prices failed to decisively move past 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.
Saturday's trading range was BTC0.0000155 (9.99%), that's slightly below last trading month's daily average range of BTC0.0000178. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly above 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. Regardless of a weak opening Komodo managed to close above the prior day's open and close, forming a bullish Engulfing Candle.
Unable to break through the key technical resistance level at 0.0001617, KMD/BTC closed below it after spiking as high as 0.0001670 during the day. The failure to close above the resistance could increase that levels importance as resistance going forward. After having been unable to move lower than 0.0001516 in the previous session, KMD found buyers again around the same price level today at 0.0001515.
The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.
Selling might accelerate should prices move below the nearby swing low at 0.0001438 where further sell stops could get activated.
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 Komodo/BTC Index
|Condition||Forecast||Direction||Direction||Win Rate||Win Rate||Exit Day||Exit Day||Events|
|Bearish Outside Bar||TQ Pro Members Only|
|High close to previous High||TQ Pro Members Only|
|High close to previous two Highs||TQ Pro Members Only|
|Low close to previous low||TQ Pro Members Only|
|Close to Swing Low||TQ Pro Members Only|
More market conditions identified for TQ Pro members...
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