Crypto markets covered a range with the latter part of the week recovering, CFx -1%.
Market conditions point to a consolidation period covering a range of 1700 to 1900.
Makers may look to test the lows and trigger another squeeze. The CFx MLRS
indicator is currently signaling market buy so we will favor our long positions.
Notably, our Ethereum (ETH) short was covered at 133.24 and we are at the moment
long. If the consolidation period drags on with lower volumes we may look to begin
to accumulate assets rather than chase a trading gain.
CFx 90 Day
The CFx moved mostly sideways this week. CFx 1755.25 Volumes continue to
compress as we move into a consolidation period.
CFxMLRS
The CFx Machine Learning Relative Strength (MLRS) indicator 1.01 currently reads
market buy.
CFx Leaders
The weekly CFx leaders, Ethereum Classic (ETC) gained 11%, Bitcoin Cash (BCH)
advanced 8% and EOS rose 6%. Meanwhile the CFx was down -1% as a group.
CFx Laggers
The under performers this week, Bitcoin (BTC) lost -2%, Stellar (XLM) slipped -2%
and Tron (TRX) gave up -13%. Compared to the CFx that lost -1% as a group.
CFx weekly results - CFx up 2%
ETC 11%, BCH 8%, EOS 6%, LTC 3%, NEO 3%, ETH 2%, XRP 0%, XMR 0%, IOTA 0%,
DASH 0%, ADA -1%, QTUM -1%, ZEC -1%, BTC -2%, XLM -2%, TRX -8%
CFx On Balance Volume
CFx OBV looks to be putting in a base. HODLers should continue to add their favorite
assets to their wallets.
Crypto Flow Index MLRS Profile
This week saw a market buy signal from the CFx MLRS. As well as buy signals from the
Machine Learning Relative Strength indicators for Ethereum (ETH), Bitcoin Cash (BCH),
Litecoin (LTC), and Zcash (ZEC).
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