Crypto Market Summary for Oct 18, 2020
Major Cryptocurrencies Technical Analysis Market Overview Report for Oct 18, 2020 | by Techniquant Editorial Team
With six out of the seven Major Cryptocurrencies closing higher today, the ones that stand out on the positive side are ETHUSD gaining 2.69% and BCHUSD closing 1.76% higher. On the flipside the worst performer has been ETCUSD closing -0.36% lower.
One of today's most interesting market conditions in the Major Cryptocurrencies showed up in LTCUSD: Among the eight market conditions that our pattern recognition engine identified today, the statistics for the OHLC Patterns based market condition "Bearish Hikkake Pattern" stand out. Its common bearish interpretation has been confirmed for LTC/USD. Out of 173 times, LTCUSD closed lower 54.34% 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 two trading days, showing a win rate of 60.12% with an average market move of -0.79%. Read more
Looking at the Minor Cryptocurrencies, the winners of the day have been BCNUSD surging 13.16% and VETBTC closing 5.15% higher. The worst performers of the day have been WAVESBTC tanking -5.27% and WAVESUSD closing -4.08% lower.