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Is Bitcoin poised to take further breather as rally in Bitcoin Cash, Litecoin and Ethereum continues?

Jun 11, 2019

Better Data for Better Investment DecisionsBetter Data for Better Investment Decisions
Better Data for Better Investment DecisionsBetter Data for Better Investment Decisions

 

  Ticker Last Price 10-Day Price EWMA
Bitcoin Cash BCH 391.56 399.1887676
Bitcoin BTC 7,914.44 7970.544428
Ethereum ETH 244.43 247.1086907
Litecoin LTC 137.77 114.7541687
Ripple XRP 0.39 0.407745292

 

  • We decided to take a look at the exponentially weighted moving averages (EWMA) for the top 5 cryptocurrencies by market capitalization to get a feel for whether the recent price weakness will continue
    • Specifically, we take a look at 10-day EWMAs as we have found that to be a predictive short-term price factor for many of the larger, more liquid cryptocurrencies
  • Notably, both Bitcoin (BTC) and Ripple (XRP) have broken below their rolling 10-day EWMAs
    • From a technical perspective, this is not a positive sign and would suggest we might experience further price pressure over the next few days
  • Bitcoin (BTC) and Ripple (XRP) currently have DON’T OWN trading signals which are set to rest tomorrow               
  • In contrast, Bitcoin Cash (BCH), Litecoin (LTC) and Ethereum (ETH) continues to hover above the 10-day EWMA
    • Litecoin (LTC) is up 5.64% over the last 24 hours and appears poised to continue to rally
    • Currently, it has a DON’T OWN rading signal which is set to reset tomorrow
    • Both Bitcoin Cash (BCH) and Ethereum (ETH) have BUY trading signals are set to reset tomorrow

 

Global Top Stock IdeasTOP LONG & TOP SHORT STOCK IDEAS FOR GLOBAL MARKETSMONTHLY TOP IDEAS FROM OUR MULTI-FACTOR QUANTITATIVE MODELS
Global Top Stock IdeasTOP LONG & TOP SHORT STOCK IDEAS FOR GLOBAL MARKETSMONTHLY TOP IDEAS FROM OUR MULTI-FACTOR QUANTITATIVE MODELS