Hi everyone, this is my first post here but the TradingView bosses gave me permission to use their charts throughout my new book – The Crypto Trader – which is now on Amazon for pre-orders (released by financial publisher Harriman House on 20th May).
For my first published Idea, I wanted to find out which of the macro-cap cryptos have been showing the most strength during the recent rally. After nearly 20 years of trading, I’ve learned (sometimes the hard way) that picking the weakest to buy because they’ve got “further to rise” is usually a losing strategy. The best in class usually continue to be the best in class for some time to come.
I’ve taken the November crash as my starting point, to see which cryptos recovered from that huge dip most successfully.
As you can see, to many people’s surprise, LTC has been outperforming, easily rising above the November cliff-edge. EOS is also doing very well, but hasn’t quite conquered the November resistance yet. BCH has been considered by many to be a strong performer in this rally, but as you can see it actually fell so far in November that it’s still got a long way to go.
Momentum analysis strongly suggests LTC and EOS are the most likely to continue to outperform in the medium to long term. BCH is trying hard to recover from a much harder fall, so it could have medium-term potential too.
As I said this is my first published idea, so I’d welcome any tips or feedback from you guys about how I presented my Idea.
Cheers,
Glen
Published at Tue, 16 Apr 2019 15:04:56 +0000
