VENBTC dominated by bears dragging the market lower throughout the day
Moving lower for the 2nd day in a row, VENBTC ended Saturday at 0.0001442 losing BTC0.0000146 (-9.19%). Today's closing price of 0.0001442 marks the lowest close since December 28, 2017. The bears were in full control today, moving the market lower throughout the whole session. Closing below Friday's low at 0.0001570, the market confirms its breakout through the prior session's low having traded BTC0.0000133 below it intraday. Ending with a weak close near the low of the day sets a bearish note for the next session.
Saturday's trading range was BTC0.0000159 (9.97%), that's below last trading month's daily average range of BTC0.0000366. Things look different on a weekly scale, where volatility is way below the markets average with the monthly volatility being slightly above average.
The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.
With prices trading close to this year's low at 0.0001424, downside momentum could speed up should VEN/BTC break out to new lows for the year.
While classical technical analysis indicates a slightly bearish sentiment for the next trading day, our quantitative statistics show a different picture being neutral.
Market Conditions for VeChain/BTC Index
|Decisive Up Move||TQ Pro Members Only|
|White Candle||TQ Pro Members Only|
|Price broke through Technical Resistance R1||TQ Pro Members Only|
|Closed above last periods high||TQ Pro Members Only|
|2 Consecutive Higher Closes||TQ Pro Members Only|
More market conditions identified for TQ Pro members...
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