KMDBTC pops to highest close since September 10th

Komodo/BTC Index (KMDBTC) Technical Analysis Report for Sep 15, 2018

Highlights

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

TQ Sentiment

Report Sentiment: 37% Bullish
Technical Forecast:

Overview

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 chart for KMDBTC

Volatility

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.

Price Action

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.

Support/Resistance

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.

Trend

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

Order Flow

Selling might accelerate should prices move below the nearby swing low at 0.0001438 where further sell stops could get activated.

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 Komodo/BTC Index

Condition Forecast Direction Win Rate 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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