Crypto Market Summary for Aug 16, 2019


Major Cryptocurrencies Technical Analysis Market Overview Report for Aug 16, 2019 | by Techniquant Editorial Team

Highlights

BTCUSD closes higher for the 2nd day in a row
EOSUSD snaps to lowest close since March 4th
ETCUSD closes within prior day's range after lackluster session
LTCUSD closes within previous day's range after lackluster session
ETHUSD runs into sellers again around 188.24
BCHUSD finds buyers at key support level
XRPUSD closes within prior day's range

Summary

With six out of the seven Major Cryptocurrencies closing lower today, the ones that stand out on the negative side are ETCUSD losing -2.12% and LTCUSD closing -1.94% lower. On the flipside the best performer has been BTCUSD closing 0.69% higher.

One of today's most interesting market conditions in the Major Cryptocurrencies showed up in BCHUSD: Among the two market conditions that our pattern recognition engine identified today, the statistics for the OHLC Patterns based market condition "Last Engulfing Bottom Pattern" stand out. Though it is usually interpreted as bullish, it has actually shown to be bearish for BCH/USD. Out of 20 times, BCHUSD closed lower 55.00% of the time on the next trading day after the market condition occurred. The optimal exit for swing trading this condition on the short side has been after 10 trading days, showing a win rate of 55.00% with an average market move of -0.45%. Read more

Looking at the Minor Cryptocurrencies, the winners of the day have been XVGUSD surging 12.76% and XVGBTC closing 11.9% higher. The worst performers of the day have been ICXBTC tanking -9.81% and BATBTC closing -5.01% lower.

Major Cryptocurrencies Overviews

BTCUSD 10,335.62 70.90 (0.69%) Moving higher for the 2nd day in a row, BTCUSD finished the week -10.55% lower at 10335.62 after edging higher $70.90 (0.69%) today. Trading up to $544.19 lower after the open, the market managed to reverse during the session as bulls took control ending the day above its opening price. Closing within the prior day's range, prices missed to decisively move beyond the previous day's trading range. Read more
EOSUSD 3.59 -0.03 (-0.83%) Moving lower for the 5th day in a row, EOSUSD finished the week -14.52% lower at 3.59 after losing $0.03 (-0.83%) today. Today's close at 3.59 marks the lowest recorded closing price since March 4th. Closing within the prior day's range, prices failed to decisively move beyond the previous day's trading range in a lackluster session. Read more
ETCUSD 5.54 -0.12 (-2.12%) ETCUSD finished the week -4.97% lower at 5.54 after losing $0.12 (-2.12%) today on low volume. Today's close at 5.54 marks the lowest recorded closing price since July 16th. Closing within the previous day's range, prices missed to decisively move beyond the prior day's trading range in a lackluster session. Read more
LTCUSD 74.71 -1.48 (-1.94%) LTCUSD ended the week -17.1% lower at 74.71 after losing $1.48 (-1.94%) today. Today's close at 74.71 marks the lowest recorded closing price since May 9th. Closing within the previous day's range, prices missed to decisively move beyond the prior day's trading range in a lackluster session. Read more
ETHUSD 185.52 -2.28 (-1.21%) ETHUSD finished the week -14.35% lower at 185.52 after losing $2.28 (-1.21%) today. Closing within the prior day's range, prices missed to decisively move beyond the previous day's trading range. Read more
BCHUSD 308.37 -5.64 (-1.80%) BCHUSD finished the week -8.95% lower at 308.37 after losing $5.64 (-1.8%) today. Closing within the prior day's range, prices missed to decisively move beyond the previous day's trading range. Read more
XRPUSD 0.2614 -0.0021 (-0.80%) XRPUSD ended the week -13.79% lower at 0.2614 after losing $0.0021 (-0.8%) today. Closing within the prior day's range, prices missed to decisively move beyond the previous day's trading range. Read more

Detailed Reports

Daily technical analysis candlestick chart for Stellar/Bitcoin Index (XLMBTC) as at Sep 18, 2019
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Daily technical analysis candlestick chart for Bitcoin/Japanese Yen Index (BTCJPY) as at Sep 18, 2019
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Daily technical analysis candlestick chart for Ripple/Bitcoin Index (XRPBTC) as at Sep 18, 2019
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Daily technical analysis candlestick chart for Bitcoin/Chinese Yuan Index (BTCCNY) as at Sep 18, 2019
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