“Double Momentum Balls” for Cryptocurrencies: A relative performance chart

Overview

Given the recent volatility in cryptos, the chart below gives a good snapshot and overview of the relative performance of the top 40 crypto-currencies/assets.  The axes represent the 7 day (weekly) return plotted against the 30 day (monthly) return for each crypto. This gives an indication of recent relative momentum of each asset.  Normally split into 4 quadrants, the optimal situation is to have a crypto in the top right quadrant (i.e. outperforming on both a 7 day and 30 day time frame and hopefully without a sky high RSI).  Bargain hunters should look for laggards in the left side of the chart.

The size of the balls represent the relative “market cap” of the cryptos, and the color of the balls represent their 14 day RSI as a further indicator. The embedded Plotly chart is actually interactive and if clicked (better if opened on a desktop) will open a new tab allowing you to zoom in and hover over each ball to give extra details including the individual 7 day & 30 day returns, their market cap, 14 day RSI, and also their 14 day volatility (Standard Deviation).

mom_balls_7Dvs30D_dec 23_2017_B

 

 

//plot.ly/~andrewjim2213/3.embed

Interactive link:  Double Momentum Balls 7D vs 30D


So what does this chart tell us?

First of all, the “big caps” are relative under performers with Bitcoin (BTC) particularly weak on a 7 day basis given the recent “flash crash” sell off around Dec 22.  BTC is down -21% in 7 days but still up +90% over the last 30 days with an RSI of 53, and just looking at the chart, suggests it is a potentially good bargain hunting candidate.  ETH has only fared slightly better remaining up +6% in last 7 days (and up +81% over 30 days). But the best outperforming “big cap” is Ripple (XRP) and still up +40% in 7 days & +333% in last 30 days.

Relatively riskier outperforming assets on the far right of the chart include KMD (Komodo) with a high RSI of 91 (yellow ball) and is the best weekly performer (up +160%) despite the overall weakness in crypto space.  Also DGB (DigiByte)  is looking top heavy too as an outperforming outlier,  up +151% in 7 days and +788% in 30 days!

Stay safe and Happy Trading,

AJ

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