LSKBTC finds buyers at key support level
Lisk/BTC Index (LSKBTC) Technical Analysis Report for Sep 15, 2018
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.
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.
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.
The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.
Selling might speed up should prices move below the close-by swing low at 0.000477 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.
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