Crypto Market Summary for Aug 14, 2019


Major Cryptocurrencies Technical Analysis Market Overview Report for Aug 14, 2019 | by Techniquant Editorial Team

Highlights

LTCUSD runs into sellers again around 86.06
EOSUSD closes lower for the 3rd day in a row
ETHUSD slumps, losing $23.38 (-11.19%) within a single day on high volume
BTCUSD plummets, losing $888.19 (-8.16%) within a single day on high volume
BCHUSD dominated by bears dragging the market lower throughout the day
ETCUSD breaks back below 20-day moving average
XRPUSD declines to lowest close since December 11, 2017

Summary

With seven out of the seven Major Cryptocurrencies closing lower today, the ones that stand out on the negative side are XRPUSD losing -12.54% and BCHUSD closing -11.69% 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 LTCUSD: Among the 14 market conditions that our pattern recognition engine identified today, the statistics for the Support/Resistance based market condition "Bearish Break through SMA 200" stand out. While it is usually interpreted as bearish, it has actually shown to be bullish for LTC/USD. Out of 34 times, LTCUSD closed higher 64.71% 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 64.71% with an average market move of 2.02%. Read more

Looking at the Minor Cryptocurrencies, the winners of the day have been ICXBTC surging 18.92% and VETBTC closing 4.44% higher. The worst performers of the day have been BATUSD tanking -14.8% and TRXUSD closing -13.25% lower.

Major Cryptocurrencies Overviews

LTCUSD 75.10 -9.56 (-11.29%) Moving lower for the 3rd day in a row, LTCUSD ended Wednesday at 75.10 tanking $9.56 (-11.29%). This is the biggest single-day loss in over four weeks. Today's close at 75.10 marks the lowest recorded closing price since May 9th. The bears were in full control today, moving the market lower throughout the whole session. Closing below Tuesday's low at 83.14, the cryptocurrency confirmed its breakout through the prior session low after trading up to $8.56 below it intraday. Read more
EOSUSD 3.65 -0.43 (-10.54%) Moving lower for the 3rd day in a row, EOSUSD ended Wednesday at 3.65 tanking $0.43 (-10.54%) on high volume. This is the biggest single-day loss in over four weeks. The last time we've seen such an unusually strong single-day loss on July 10th, EOSUSD lost -11.76% on the following trading day. Today's close at 3.65 marks the lowest recorded closing price since March 14th. The bears were in full control today, moving the market lower throughout the whole session. Closing below Tuesday's low at 3.96, EOS/USD confirmed its breakout through the prior session low after trading up to $0.39 below it intraday. Read more
ETHUSD 185.49 -23.38 (-11.19%) Moving lower for the 3rd day in a row, ETHUSD ended Wednesday at 185.49 tanking $23.38 (-11.19%) on high volume. This is the biggest single-day loss in over four weeks. Today's close at 185.49 marks the lowest recorded closing price since May 10th. The bears were in full control today, moving the market lower throughout the whole session. Closing below Tuesday's low at 203.38, the cryptocurrency confirmed its breakout through the prior session low after trading up to $20.56 below it intraday. Read more
BTCUSD 9,992.48 -888.19 (-8.16%) Moving lower for the 3rd day in a row, BTCUSD ended Wednesday at 9992.48 tanking $888.19 (-8.16%) on high volume. This is the biggest single-day loss in over four weeks. The last time we've seen such an unusually strong single-day loss on June 27th, BTCUSD actually gained 11.57% on the following trading day. Today's close at 9992.48 marks the lowest recorded closing price since July 30th. The bears were in full control today, moving the market lower throughout the whole session. Closing below Tuesday's low at 10765.30, Bitcoin confirmed its breakout through the prior session low after trading up to $840.72 below it intraday. Read more
BCHUSD 308.09 -40.78 (-11.69%) BCHUSD finished Wednesday at 308.09 tanking $40.78 (-11.69%) on high volume. This is the biggest single-day loss in over a month. Today's close at 308.09 marks the lowest recorded closing price since July 29th. The bears were in full control today, moving the market lower throughout the whole session. Closing below Tuesday's low at 327.59, BCH confirmed its breakout through the prior session low after trading up to $20.64 below it intraday. Read more
ETCUSD 5.57 -0.38 (-6.39%) ETCUSD finished Wednesday at 5.57 tanking $0.38 (-6.39%) on high volume. This is the biggest single-day loss in over four weeks. The last time we've seen such an unusually strong single-day loss on July 14th, ETCUSD actually gained 4.29% on the following trading day. Today's close at 5.57 marks the lowest recorded closing price since July 16th. Closing below Tuesday's low at 5.74, ETC/USD confirmed its breakout through the prior session low after trading up to $0.26 below it intraday. Read more
XRPUSD 0.2601 -0.0373 (-12.54%) Moving lower for the 3rd day in a row, XRPUSD ended Wednesday at 0.2601 tanking $0.0373 (-12.54%) on high volume. This is the biggest single-day loss in over a month. The last time we've seen such an unusually strong single-day loss on June 30th, XRPUSD actually gained 3.72% on the following trading day. Today's close at 0.2601 marks the lowest recorded closing price since December 11, 2017. Closing below Tuesday's low at 0.2921, XRP confirmed its breakout through the prior session low after trading up to $0.0514 below it intraday. Read more

Detailed Reports

Daily technical analysis candlestick chart for Bitcoin/Chinese Yuan Index (BTCCNY) as at Nov 11, 2019
Nov 11, 2019
Daily technical analysis candlestick chart for Bitcoin/British Pound Index (BTCGBP) as at Nov 11, 2019
Nov 11, 2019
Daily technical analysis candlestick chart for Bitcoin/Euro Index (BTCEUR) as at Nov 11, 2019
Nov 11, 2019
Daily technical analysis candlestick chart for Bitcoin Cash/Bitcoin Index (BCHBTC) as at Nov 11, 2019
Nov 11, 2019
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