PIVXBTC closes within previous day's range
Private Instant Verified Transaction/BTC Index (PIVXBTC) Technical Analysis Report for Sep 15, 2018
PIVXBTC ended Saturday at 0.0001428 gaining BTC0.0000066 (4.85%). Closing within the prior day's range, prices failed to decisively move past the previous day's trading range.
Saturday's trading range was BTC0.0000132 (9.78%), that's slightly above last trading month's daily average range of BTC0.0000120. Weekly volatility is also higher, being slightly above the markets average with the monthly volatility being slightly above average.
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. In spite of a weak opening the market managed to close above the previous day's open and close, forming a bullish Engulfing Candle.
Prices are trading close to the key resistance level at 0.0001511. After having been unable to move lower than 0.0001327 in the prior session, the cryptocurrency found buyers again around the same price level today at 0.0001337.
The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.
Buying might accelerate should prices move above the nearby swing high at 0.0001516 where further buy stops could get triggered.
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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