Crypto Market Summary for Aug 14, 2019
Major Cryptocurrencies Technical Analysis Market Overview Report for Aug 14, 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 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.