KMDBTC pops to highest close since September 10th

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


KMDBTC unable to break through key resistance level
KMDBTC finds buyers again around 0.0001515
KMDBTC rises to highest close since September 10th
KMDBTC closes within previous day's range
KMDBTC ends the day indecisive


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.

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

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

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.

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 KMDBTC as at Sep 15, 2018

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