STEEMBTC closes within previous day's range after lackluster session
Steem/Bitcoin Index (STEEMBTC) Technical Analysis Report for Sep 15, 2018 | by Techniquant Editorial Team
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.
Daily Candlestick Chart (STEEMBTC as at Sep 15, 2018):
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.
With six out of the seven Major Cryptocurrencies closing higher today, the ones that stand out on the positive side are ETHUSD gaining 6.08% and ETCUSD closing 3.28% higher. On the flipside the worst performer has been LTCUSD closing -0.21% lower. Looking at the other Minor Cryptocurrencies, the winners of the day have been ETHCNY surging 11.52% and KCSBTC closing 6.75% higher. The worst performers of the day have been ETHGBP tanking -8.43% and NANOBTC closing -5.24% lower. Read more