LSKBTC ends the day indecisive
Lisk/Bitcoin Index (LSKBTC) Technical Analysis Report for Nov 10, 2019 | by Techniquant Editorial Team
LSKBTC ended Sunday at 0.000086 losing BTC0.000001 (-1.15%). Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.
Daily Candlestick Chart (LSKBTC as at Nov 10, 2019):
Sunday's trading range has been BTC0.000003 (3.45%), that's below the last trading month's daily average range of BTC0.000004. Weekly volatility is also lower, being below the market's average weekly trading range. The longer-term, monthly volatility is currently slightly lower than usual for LSKBTC.
In a volatile session, prices traded above the previous day's high as well as below the prior day's low, forming a bearish Outside Bar. The last time this happened on October 29th, LSKBTC actually gained 1.19% on the following trading day. Despite a strong opening the cryptocurrency closed below the previous day's open and close, forming a bearish Engulfing Candle. After moving higher in the prior session, LSK closed lower but above the previous day's open today, forming a bearish Harami Candle.
The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.
Buying might accelerate should prices move above the close-by swing high at 0.000090 where further buy stops could get triggered. Selling might speed up should prices move below the nearby swing low at 0.000083 where further sell stops could get activated.
Among the five market conditions that our pattern recognition engine identified today, the statistics for the OHLC Patterns based market condition "Close to Swing Low" stand out. While it is usually interpreted as neutral, it has actually shown to be bearish for LSK/BTC. Out of 513 times, LSKBTC closed lower 53.41% of the time on the next trading day after the market condition occurred. The optimal exit for swing trading this condition on the short side has been after 10 trading days, showing a win rate of 60.62% with an average market move of 2.21%.
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 KMDBTC tanking -9.82% and KMDUSD closing -7.06% lower. Read more