STRATBTC closes lower for the 2nd day in a row
Stratis/Bitcoin Index (STRATBTC) Technical Analysis Report for Aug 11, 2018 | by Techniquant Editorial Team
Moving lower for the 2nd day in a row, STRATBTC ended Saturday at 0.000250 losing BTC0.000013 (-4.94%) on low volume. Today's closing price of 0.000250 marks the lowest close since April 2, 2017. The bears were in full control today, moving the market lower throughout the whole session. Closing below Friday's low at 0.000262, Stratis confirms its breakout through the previous session's low having traded BTC0.000013 below it intraday. Ending with a weak close near the low of the day sets a bearish note for the next session.
Daily Candlestick Chart (STRATBTC as at Aug 11, 2018):
Saturday's trading range was BTC0.000015 (5.7%), that's below last trading month's daily average range of BTC0.000026. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly below average.
The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.
With seven out of the seven Major Cryptocurrencies closing lower today, the ones that stand out on the negative side are XRPUSD losing -8.28% and ETCUSD closing -7.72% lower. None of the markets managed to end the day in the green. Looking at the other Minor Cryptocurrencies, the winners of the day have been BTCCNY surging 5.28% and WAVESBTC closing 1.9% higher. The worst performers of the day have been ELFBTC tanking -13.38% and IOTBTC closing -11.22% lower. Read more