Crypto Market Summary for Jun 11, 2019
Major Cryptocurrencies Technical Analysis Market Overview Report for Jun 11, 2019 | by Techniquant Editorial Team
With six out of the seven Major Cryptocurrencies closing lower today, the ones that stand out on the negative side are XRPUSD losing -1.58% and EOSUSD closing -1.4% lower. On the flipside the best performer has been LTCUSD closing 5.45% higher.
One of today's most interesting market conditions in the Major Cryptocurrencies showed up in ETCUSD: Among the four market conditions that our pattern recognition engine identified today, the statistics for the Support/Resistance based market condition "High close to prior High" stand out. While it is usually interpreted as bearish, it has actually shown to be bullish for ETC/USD. Out of 266 times, ETCUSD closed higher 51.88% 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 51.50% with an average market move of 4.20%. Read more
Looking at the Minor Cryptocurrencies, the winners of the day have been LTCBTC surging 6.63% and LTCJPY closing 6.61% higher. The worst performers of the day have been BCNUSD tanking -9.07% and HSRBTC closing -6.48% lower.