New and More Accurate Sentiment Data and a Buy Signal! - Top 10 Cryptocurrency Analysis 3/31/18
Hey guys, it has been a while since I last posted, but I have been making some improvements to my tracking application during this time! We have new sentiment data which shows the daily gains or losses in sentiment from the previous day! This should greatly improve the data accuracy... as for the market, we currently have a buy signal for one of the top 10 cryptos!
Changes since last analysis:
-EOS passes NEO, Stellar, Cardano and Monero to become 6th largest cryptocurrency
-Cardano passes Stellar and NEO to become 7th largest cryptocurrency
-A buy signal is issued for Cardano!
-Stellar passes NEO to become 8th largest cryptocurrency
-IOTA passes Monero to become 10th largest cryptocurrency
Here is my analysis of the top 10 cryptocurrencies as of 3/31/18
(All chart times are in UTC time, the RSI is based on the closing price of the previous day and the RSI projection is based on current UTC time)
Bitcoin
Business Value Ratio
Relative Strength Index
Sentiment Indicator
Analysis
Currently, the BVR is below the average, the RSI projection is below 50 but rising and the highest sentiment spike was very recently. Let's wait for the RSI projection to reach 50 before buying more.
Ethereum
Business Value Ratio
Relative Strength Index
Sentiment Indicator
Analysis
Ethereum has been doing pretty poorly lately... currently, the BVR is above the average, the RSI projection is below 50 and rising and the largest sentiment spike was recently. We should wait for the BVR to go below the average and the RSI projection to cross the 50 line before buying more Ethereum.
Ripple
Business Value Ratio
Relative Strength Index
Sentiment Indicator
Analysis
Currently, the BVR is below the average, the RSI projection is below 50 and rising and the last sentiment spike was a while ago. Let's wait to buy more until the RSI projection crosses the 50 line and for more positive sentiment.
Bitcoin Cash
Business Value Ratio
Relative Strength Index
Sentiment Indicator
Analysis
Currently, the BVR is above the average, the RSI projection is below 50 and stable and the last sentiment spike was a while ago. Let's wait to buy more until the BVR is below the average, the RSI projection crosses the 50 line and for more positive sentiment.
Litecoin
Business Value Ratio
Relative Strength Index
Sentiment Indicator
Analysis
Currently, the BVR is below the average, the RSI projection is below 50 and rising and the highest sentiment spike was a while ago. Lets wait for the RSI projection to cross 50 and for more positive sentiment before buying more.
EOS
Business Value Ratio
Relative Strength Index
Sentiment Indicator
Analysis
Currently, the BVR is below the average, the RSI projection is above 50 and rising and the highest sentiment spike was over a week ago. Let's hold our EOS until the RSI goes above 70 or below 50.
Cardano
Business Value Ratio
Relative Strength Index
Sentiment Indicator
Analysis
Currently, the BVR is slightly below the average, the RSI projection is crossing the 50 line from below and there was a recent sentiment spike. This is a buy signal so I'd recommend buying some Cardano at the current price of $0.158231 USD. Remember, these are for short-term trades and please use small position sizes... we will keep track of return percentages during each analysis!
Stellar
Business Value Ratio
Relative Strength Index
Sentiment Indicator
Analysis
Currently, the BVR is above the average, the RSI projection is crossing the 50 from below and the highest sentiment spike was recently. Lets wait for the BVR to go below the average before buying more.
NEO
Business Value Ratio
Relative Strength Index
Sentiment Indicator
Analysis
Currently, the BVR is below the average, the RSI projection is below 50 and rising and the highest sentiment spike was a while ago. Lets wait for the RSI projection to cross 50 and for more positive sentiment before buying more.
IOTA
Business Value Ratio
Relative Strength Index
Sentiment Indicator
Analysis
Currently, the BVR is below the average, the RSI projection is crossing the 50 line from above and the highest sentiment spike was a while ago. Let's hold our IOTA until the RSI is above 70 or below 50.
Thank you for checking out my cryptocurrency analysis! This sentiment data will make the analysis much more accurate and will be a great indicator! I'll keep an eye on the Cardano prices for you guys so stay tuned :)
Looks promising, keep working!
Definitely! I've been waiting for a test to see if my tracker actually is accurate at predicting when a crypto is a good buy and finally there is an opportunity :)
And how does it work? Which one indicator is the most important - I mean the best prediction results?
It takes data from a few different APIs and websites... on one of my past posts I have a video of my cryptocurrency tracker application and the features it has, however it was a couple of months ago so its a little outdated, but it explains the application in a bit more detail than I have here :) I've heard the sentiment indicator is the most important one though and that one was the hardest to implement and it still requires some manual intervention of downloading charts in order to get the most accurate data
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