Crypto Market Summary for Apr 14, 2019
Major Cryptocurrencies Technical Analysis Market Overview Report for Apr 14, 2019 | by Techniquant Editorial Team
With seven out of the seven Major Cryptocurrencies closing higher today, the ones that stand out on the positive side are LTCUSD gaining 6.46% and EOSUSD closing 3.92% higher. None of the markets ended the day in the red.
One of today's most interesting market conditions in the Major Cryptocurrencies showed up in BTCUSD: Among the eight market conditions that our pattern recognition engine identified today, the statistics for the Technical Indicators based market condition "RSI(14) above 70" stand out. Though it is usually interpreted as bearish, it has actually shown to be bullish for BTC/USD. Out of 71 times, BTCUSD closed higher 52.11% of the time on the next trading day after the market condition occurred. The optimal exit for swing trading this condition on the long side has been after 10 trading days, showing a win rate of 74.65% with an average market move of 15.10%. Read more
Looking at the Minor Cryptocurrencies, the winners of the day have been HSRBTC surging 16.27% and LTCJPY closing 6.47% higher. The worst performers of the day have been BTCCNY tanking -5.07% and ETHCNY closing -4.42% lower.