The NYSE Bitcoin Index (.NYXBT) Downward Trend

The NYSE Index (.NYXBT) Downward Trend

Overall, the bias in prices is: Downwards.

Note: this shows extraordinary price action to the downside.

By the way, prices are vulnerable to a correction towards 8,668.48.

The projected upper bound is: 8,521.42.

The projected lower bound is: 6,549.06.

The projected closing price is: 7,535.24.

Candlesticks

WARNING: These prices only contain closing prices. Thus, the candlestick analysis in this expert will be invalid (including the alerts, symbols, and this commentary). To detach this expert, right-click on the NYSE BitcoinIndx , choose Expert Advisor, and then choose Detach.

During the past 10 bars, there have been 0 white candles and 0 black candles. During the past 50 bars, there have been 0 white candles and 0 black candles.

A falling window occurred (where the bottom of the previous shadow is above the top of the current shadow). This usually implies a continuation of a bearish trend. There have been 24 falling windows in the last 50 candles–this makes the current falling window even more bearish.

A gravestone doji occurred. This often signifies a top (the longer the upper shadow, the more bearish the signal).

Momentum Indicators

Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.

Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 6.8867. This is an oversold reading. However, a signal is not generated until the Oscillator crosses above 20 The last signal was a buy 2 period(s) ago.

Relative Strength Index (RSI)

The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 36.27. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a buy 38 period(s) ago.

Commodity Channel Index (CCI)

The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is -145.This is an oversold reading. However, a signal isn’t generated until the indicator crosses above -100. The last signal was a buy 3 period(s) ago.

MACD

The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a sell 9 period(s) ago.

Rex Takasugi – TD Profile

NYSE BitcoinIndx closed down -170.660 at 7,550.296. Volume was -0% below average (neutral) and Bollinger Bands were 45% narrower than normal.

Open High Low Close Volume___
7,550.2967,550.2967,550.2967,550.296 0

Technical Outlook
Short Term: Oversold
Intermediate Term: Bearish
Long Term: Bearish

Moving Averages: 10-period 50-period 200-period
Close: 8,250.13 8,248.85 8,689.57
Volatility: 65 78 127
Volume: 0 0 0

Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.

Summary

NYSE BitcoinIndx gapped down today (bearish) on normal volume. Possibility of a Runaway Gap which usually signifies a continuation of the trend. Four types of price gaps exist – Common, Breakaway, Runaway, and Exhaustion. Gaps acts as support/resistance.
NYSE BitcoinIndx is currently 13.1% below its 200-period moving average and is in an downward trend. Volatility is relatively normal as compared to the average volatility over the last 10 periods. Our volume indicators reflect very strong flows of volume into .NYXBT (bullish). Our trend forecasting oscillators are currently bearish on .NYXBT and have had this outlook for the last 1 periods.