Crypto Market Summary for Jan 13, 2020
Major Cryptocurrencies Technical Analysis Market Overview Report for Jan 13, 2020 | by Techniquant Editorial Team
With six out of the seven Major Cryptocurrencies closing lower today, the ones that stand out on the negative side are LTCUSD losing -2.47% and EOSUSD closing -1.89% lower. On the flipside the best performer has been BCHUSD closing 0.26% higher.
One of today's most interesting market conditions in the Major Cryptocurrencies showed up in LTCUSD: Among the seven market conditions that our pattern recognition engine identified today, the statistics for the Support/Resistance based market condition "High close to previous two Highs" stand out. While it is usually interpreted as bearish, it has actually shown to be bullish for LTC/USD. Out of 219 times, LTCUSD closed higher 49.32% 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 56.16% with an average market move of 12.80%. Read more
Looking at the Minor Cryptocurrencies, the winners of the day have been BCNUSD surging 10.2% and ZECBTC closing 7.73% higher. The worst performers of the day have been XVGUSD tanking -7.52% and XVGBTC closing -6.82% lower.