Crypto Market Summary for Jan 18, 2020
Major Cryptocurrencies Technical Analysis Market Overview Report for Jan 18, 2020 | by Techniquant Editorial Team
With four out of the seven Major Cryptocurrencies closing lower today, the ones that stand out on the negative side are ETCUSD losing -13.15% and BCHUSD closing -3.84% lower. On the flipside the best performers have been ETHUSD closing 3.26% higher and XRPUSD gaining 2.88%.
One of today's most interesting market conditions in the Major Cryptocurrencies showed up in EOSUSD: Among the five market conditions that our pattern recognition engine identified today, the statistics for the Technical Indicators based market condition "Close crossed below the upper Bollinger Band" stand out. While it is usually interpreted as bearish, it has actually shown to be bullish for EOS/USD. Out of 34 times, EOSUSD closed higher 50.00% 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 16.72%. Read more
Looking at the Minor Cryptocurrencies, the winners of the day have been STEEMBTC surging 27.54% and BCNUSD closing 14.61% higher. The worst performers of the day have been ZECBTC tanking -13.54% and ZECUSD closing -13.32% lower.