XMRBTC breaks below previous session low
Moving lower for the 2nd day in a row, XMRBTC finished Saturday at 0.01464 losing BTC0.00026 (-1.74%) on low volume. Today's closing price of 0.01464 marks the lowest close since November 7, 2017. Trading BTC0.00019 higher after the open, the cryptocurrency was unable to hold its gains as the bears took control ending the day below its opening price. Closing below Friday's low at 0.01481, XMR confirms its breakout through the previous session's low having traded BTC0.00021 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 BTC0.00048 (3.22%), that's below last trading month's daily average range of BTC0.00076. Things look different on a weekly scale, where volatility is above 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.
While classical technical analysis indicates a slightly bearish sentiment for the next trading day, our quantitative statistics show a different picture being bullish.
Market Conditions for XMR/BTC Index
|Close to R1 Resistance||TQ Pro Members Only|
|Strong Up Move||TQ Pro Members Only|
|Decisive Up Move||TQ Pro Members Only|
|White Candle||TQ Pro Members Only|
|Close to Swing High||TQ Pro Members Only|
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