LSKBTC finds buyers at key support level

Lisk/BTC Index (LSKBTC) Technical Analysis Report for Sep 15, 2018

Highlights

LSKBTC finds buyers at key support level
LSKBTC closes lower for the 2nd day in a row
LSKBTC breaks below previous session low
LSKBTC ends the day indecisive

TQ Sentiment

Report Sentiment: 0% Neutral
Technical Forecast:

Overview

Moving lower for the 2nd day in a row, LSKBTC finished Saturday at 0.000510 edging lower BTC0.000004 (-0.78%). Closing below Friday's low at 0.000513, the market confirms its breakout through the previous session's low having traded BTC0.000018 below it intraday. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for LSKBTC

Volatility

Saturday's trading range was BTC0.000020 (3.91%), that's far below last trading month's daily average range of BTC0.000048. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly below average.

Support/Resistance

After trading as low as 0.000495 during the day, LSK/BTC bounced off the key support level at 0.000497. The failure to close below the support could increase that levels importance as support going forward.

Trend

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

Order Flow

Selling might speed up should prices move below the close-by swing low at 0.000477 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 Lisk/BTC Index

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