XMRBTC closes higher for the 3rd day in a row

XMR/BTC Index (XMRBTC) Technical Analysis Report for Sep 15, 2018

Highlights

XMRBTC unable to break through key resistance level
XMRBTC closes higher for the 3rd day in a row
XMRBTC pushes through previous session high
XMRBTC rises to highest close since September 4th

TQ Sentiment

Report Sentiment: 0% Neutral
Technical Forecast:

Overview

Moving higher for the 3rd day in a row, XMRBTC finished Saturday at 0.01830 gaining BTC0.00055 (3.1%). Today's closing price of 0.01830 marks the highest close since September 4th. Closing above Friday's high at 0.01798, XMR/BTC confirms its breakout through the previous session's high having traded BTC0.00076 above it intraday.

Daily chart for XMRBTC

Volatility

Saturday's trading range was BTC0.00083 (4.62%), that's below last trading month's daily average range of BTC0.00121. Things look different on a weekly scale, where volatility is above the markets average with the monthly volatility being slightly above average.

Support/Resistance

Unable to break through the key technical resistance level at 0.01838, the cryptocurrency closed below it after spiking as high as 0.01874 during the day. The failure to close above the resistance might increase that levels importance as resistance going forward.

Trend

Though still in a long-term downtrend, the short and medium-term trends both turned bullish already.

Order Flow

As prices are trading close to September's high at 0.01921, upside momentum could accelerate should the market mark new highs for the month.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bearish.

Market Conditions for XMR/BTC Index

Condition Forecast Direction Win Rate Exit Day Events
2 Consecutive Lower Closes TQ Pro Members Only
Close near low of period TQ Pro Members Only
Closed below last periods low TQ Pro Members Only
Bearish Outside Bar TQ Pro Members Only
Bearish Break through SMA 100 TQ Pro Members Only
More market conditions identified for TQ Pro members...
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