XMRBTC breaks below previous session low


XMR/BTC Index (XMRBTC) Technical Analysis Report for Aug 11, 2018 [< 1 min read]
Highlights
XMRBTC closes below its opening price unable to hold early session gains
XMRBTC closes lower for the 2nd day in a row
XMRBTC ends the day on a bearish note closing near the low of the day
XMRBTC breaks below previous session low
XMRBTC falls to lowest close since November 7, 2017
TQ Sentiment
Report Sentiment: 60% Bearish
Technical Forecast:
Overview

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.

Daily chart for XMRBTC
Volatility

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.

Trend

The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.

Conclusion

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
Condition Forecast Direction Win Avg Worst Best Events
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
More market conditions identified for TQ Pro members...
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