STEEMBTC closes within previous day's range after lackluster session
Steem/BTC Index (STEEMBTC) Technical Analysis Report for Sep 15, 2018
STEEMBTC finished Saturday at 0.0001125 gaining BTC0.0000022 (1.99%). Closing within the prior day's range, prices failed to decisively move beyond the previous day's trading range in a lackluster session.
Saturday's trading range was BTC0.0000068 (6.18%), that's below last trading month's daily average range of BTC0.0000084. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly above average. Prices continued to consolidate within a tight trading range between 0.0001074 and 0.0001170 which it has been in now for the last three days.
Prices are trading close to a key support level at 0.0001074.
The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.
Buying could speed up should prices move above the close-by swing high at 0.0001170 where further buy stops might get activated. Selling could accelerate should prices move below the nearby swing low at 0.0001074 where further sell stops might get triggered.
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 Steem/BTC Index
|Condition||Forecast||Direction||Direction||Win Rate||Win Rate||Exit Day||Exit Day||Events|
|Close near low of period||TQ Pro Members Only|
|High close to previous High||TQ Pro Members Only|
|Low close to previous low||TQ Pro Members Only|
|Close to Swing Low||TQ Pro Members Only|
|Bearish Intraday Reversal||TQ Pro Members Only|
More market conditions identified for TQ Pro members...
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