Crypto Market Summary for Nov 21, 2019
Major Cryptocurrencies Technical Analysis Market Overview Report for Nov 21, 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 -8.74% and ETHUSD closing -8.11% 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 nine 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. While it is usually interpreted as bearish, it has actually shown to be bullish for LTC/USD. Out of 53 times, LTCUSD closed higher 67.92% 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 58.49% with an average market move of 5.55%. Read more
Looking at the Minor Cryptocurrencies, the winners of the day have been XRPBTC surging 3.14% and ETCBTC closing 2.24% higher. The worst performers of the day have been ETHCNY tanking -11.28% and LTCCNY closing -11.12% lower.