VENBTC dominated by bears dragging the market lower throughout the day


VeChain/Bitcoin Index (VETBTC) Technical Analysis Report for Aug 11, 2018 | by Techniquant Editorial Team

Highlights

VENBTC dominated by bears dragging the market lower throughout the day
VENBTC closes lower for the 2nd day in a row
VENBTC ends the day on a bearish note closing near the low of the day
VENBTC breaks below previous session low
VENBTC falls to lowest close since December 28, 2017

Overview

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.

Daily Candlestick Chart (VETBTC as at Aug 11, 2018):

Daily technical analysis candlestick chart for VeChain/Bitcoin Index (VETBTC) as at Aug 11, 2018

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.

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 ETHUSD closing -6.98% 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 IOTUSD closing -12.28% lower. Read more


Market Conditions for VETBTC as at Aug 11, 2018

Loading Market Conditions for VETBTC (VeChain/Bitcoin Index)...
Trending Assets

Upgrade your trading!

Get the stats behind the charts

Find out what happened when VeChain/Bitcoin Index traded like this in the past. See the odds for each technical pattern with expected gain and loss.

Find out more
Top Movers
You have free reports remaining. Subscribe for unlimited access...SUBSCRIBELOGINGO!