KMDBTC tumbles, losing BTC0.0000095 (-9.82%) within a single day


Komodo/Bitcoin Index (KMDBTC) Technical Analysis Report for Nov 10, 2019 | by Techniquant Editorial Team

Highlights

KMDBTC crashes, losing BTC0.0000095 (-9.82%) within a single day
KMDBTC runs into sellers again around 0.0000976
KMDBTC closes within previous day's range

Overview

KMDBTC finished Sunday at 0.0000872 tanking BTC0.0000095 (-9.82%). This is the biggest single-day loss in over four months. The last time we've seen such an unusually strong single-day loss on October 25th, KMDBTC lost -7.53% on the following trading day. Closing within the previous day's range, prices missed to decisively move beyond the prior day's trading range.

Daily Candlestick Chart (KMDBTC as at Nov 10, 2019):

Daily technical analysis candlestick chart for Komodo/Bitcoin Index (KMDBTC) as at Nov 10, 2019

Sunday's trading range has been BTC0.0000150 (15.96%), that's far above the last trading month's daily average range of BTC0.0000067. Weekly volatility is also higher, being way above the market's average weekly trading range. The longer-term, monthly volatility is currently slightly higher than usual for KMDBTC.

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.

Prices are trading close to the key technical support level at 0.0000819 (S1). After having been unable to move above 0.0000981 in the prior session, KMD/BTC ran into sellers again around the same price level today, missing to move higher than 0.0000976.

Crossing below the upper Bollinger Band, prices have lost at least some of their upward momentum in the short-term and could now be heading back down towards the mean of the Bollinger Bands at 0.0000687.

While still in a long-term downtrend, the short and medium-term trends both turned bullish already.

Among the four market conditions that our pattern recognition engine identified today, the statistics for the Price Action based market condition "Very Strong Down Move" stand out. Its common bearish interpretation has been confirmed for KMD/BTC. Out of 36 times, KMDBTC closed lower 66.67% of the time on the next trading day after the market condition occurred.

With six out of the seven Major Cryptocurrencies closing higher today, the ones that stand out on the positive side are BCHUSD gaining 3.73% and EOSUSD closing 3.16% higher. On the flipside the worst performer has been XRPUSD closing -0.14% lower. Looking at the other Minor Cryptocurrencies, the winners of the day have been XLMUSD surging 8.52% and VETBTC closing 6.78% higher. The worst performers of the day have been KMDUSD tanking -7.06% and BATBTC closing -3.53% lower. Read more


Market Conditions for KMDBTC as at Nov 10, 2019

Loading Market Conditions for KMDBTC (Komodo/Bitcoin Index)...
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