Crypto Market Summary for Jul 16, 2019
Major Cryptocurrencies Technical Analysis Market Overview Report for Jul 16, 2019 | by Techniquant Editorial Team
With seven out of the seven Major Cryptocurrencies closing lower today, the ones that stand out on the negative side are EOSUSD losing -14.88% and ETHUSD closing -13.63% lower. None of the markets managed to end the day in the green.
One of today's most interesting market conditions in the Major Cryptocurrencies showed up in BCHUSD: Among the five market conditions that our pattern recognition engine identified today, the statistics for the Technical Indicators based market condition "Close crossed below the lower Bollinger Band" stand out. Although it is usually interpreted as bearish, it has actually shown to be bullish for BCH/USD. Out of 20 times, BCHUSD closed higher 60.00% 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 two trading days, showing a win rate of 60.00% with an average market move of 1.08%. Read more
Looking at the Minor Cryptocurrencies, the winners of the day have been WAVESBTC surging 12.98% and XRPBTC closing 8.67% higher. The worst performers of the day have been BATUSD tanking -18.25% and ETHCNY closing -17.61% lower.