NEOBTC closes within previous day's range
NEO/Bitcoin Index (NEOBTC) Technical Analysis Report for May 23, 2020 | by Techniquant Editorial Team
NEOBTC finished Saturday at 0.00111 losing BTC0.00002 (-1.77%). Closing within the prior day's range, prices failed to decisively move beyond the previous day's trading range.
Daily Candlestick Chart (NEOBTC as at May 23, 2020):
Saturday's trading range has been BTC0.00004 (3.54%), that's slightly below the last trading month's daily average range of BTC0.00005. Weekly volatility is also lower, being slightly below the market's average weekly trading range. The longer-term, monthly volatility is currently slightly higher than usual for NEOBTC.
During the whole day, prices traded within the prior day's range, unable to trade above the previous day's high or below the prior day's low forming an Inside Bar. After moving higher in the previous session, NEO/BTC closed lower but above the prior day's open today, forming a bearish Harami Candle. The last time this candlestick pattern showed up on April 19th, NEOBTC lost -0.93% on the following trading day.
While still in a long-term downtrend, the short and medium-term trends both turned bullish already.
With five out of the seven Major Cryptocurrencies closing lower today, the ones that stand out on the negative side are EOSUSD losing -1.16% and LTCUSD closing -0.81% lower. On the flipside the best performers have been ETCUSD closing 1.55% higher and BTCUSD gaining 0.23%. Looking at the other Minor Cryptocurrencies, the winners of the day have been BCNUSD surging 10.84% and XVGUSD closing 5.05% higher. The worst performers of the day have been HSRBTC tanking -9.88% and ARDRBTC closing -9.27% lower. Read more