BitPR Weekly Market Overview: 18 Jan 2019

In collaboration with MIND Trader (@mindandtrader)
18 Jan 2019

The BitPR Market Overview focuses on technical trading patterns in cryptocurrency markets with a focus on major cryptocurrencies.

Follow us on Twitter @BitPRJapan for real-time delivery of these charts and analysis.

All charts and analysis provided by Mind Trader. Check him out on Twitter @mindandtrader.

Finally, please note that the information here is stems purely from technical analysis at a given point in time. It does not constitute investment advice and readers should not use this information as the sole basis for investment action.

All information was current as of 18 Jan 2019.

Weekly Crypto Market Review

(11th Jan-18th Jan)

Not much Change from last week, Some dip happen in midway but recovered well and now holding above important supports, both Total Market Cap & AltCoins Market Cap looks stable here so far.

7-day Crypto Market State. Source: Coin360 https://coin360.com/sharing/dhhied63b8_1547717896354

Crypto Market

Total Mkt Cap (3D Chart) Current Value: $122.7 Billion

Not much change from last week, low was $117B but recovered well and get back above $120Billion support, Above $120B one more attempt towards $145B possible, if manage to cross above $145B then big rally will start. Support $120B and below that important Fibonacci ratio supports at $119B & $111B.

AltCoin Market

Market Cap (3D Chart) Current Value : $58.5 Billion

Slightly below $55B support once last week but recovered well and now above $56Billion support, Above $56B next logical target will be $74B, if manage to cross above $74B then break out rally will start. Important supports now at $56B and below that Fibonacci ratio supports at $55.6B & $50.9B.

Bitcoin (BTC/JPY)

$BTCJPY / Current Value : 396208

Support 381595 hold and a bounced, still in Bullish Gartley Pattern, minor resistance at 403136, above that targets will be 421401 & 463603, Below 381595 exit all longs.

Bitcoin (Long Position)

Not much change from last week, Support 30000 Contacts and Resistance 39845.

Bitcoin (Short Position)

Support 18870 and resistance 27060, expecting a break down below support this time.

Ethereum (ETH)

$ETHUSD / Current Value : $121.97

Double Bottom support at $114 and also Fibonacci Ratio supports at $120 & $111, Resistance now at $130 if manage to cross then another rally towards $160 possible, Stop Loss now at $111.

Ripple (XRP)

$XRPUSD / Current Value : $0.3279

Enter long above $0.3154 for Targets $0.400 & $0.488, Stop Loss $0.3076.

Bitcoin (BTC/USD)

$BTC / Current Value : 3629

Bearish Gartley final target touched at 3485.15 and bounced now minor resistance $3660 above that next target will be $3930, Stop Loss $3450.

Litecoin (LTC)

$LTCUSD / Current Value : $31.50

Support now at $29.80 and resistance at $32.83, Enter long above $32.83 for $40 or if break below $29.80 Support then wait and try to enter long close to $26.39 for same Target.

Bitcoin Cash ABC (BCHABC)

$BCHABC / Current Value : $127.67

Avoid fresh long now, fresh long only if price hold above $144 for targets $229 & $271, Stop Loss $120.

Bitcoin Cash SV (BCHSV)

$BCHSV / Current Value : $73.95

Wait for price to move above $83.30 resistance then only enter long or if dip happen then enter long close to $68.35 for a target of $112, Stop Loss $68.

Stellar (XLM)

$XLM / Current Value : $0.1064

Enter long only if price hold above $0.1096 for Target $0.1317, Support & Stop Loss now at $0.0974.

NEM (XEM)

$XEM / Current Price : $0.057

Short term trader avoid long, only long term Investors keep accumulate for a medium term target of $0.32.

Monero (XMR)

$XMR / Current Value : $46.15

Enter long above $47.30 or Close to $44 for Targets $51.75 & $60.77, Stop Loss $43

ZCash (ZEC)

$ZEC / Current Value : $54.64

Enter long above $54.35 for Targets $60.97 & $68.70, Stop Loss $51.50.

Dash (DASH)

$DASH /Current Value : $70.71

Enter long above $66.72 for targets $78.94 & $91.79, Stop Loss $62.

Cardano (ADA)

$ADA / Current Value : $0.0438

Enter long above $0.0456 or Close to $0.0381 for Target $0.0769, Support & Stop Loss $0.0381.

Ethereum Classic (ETC)

$ETC / Current Value : $4.49

Safe Trader Wait for price to move above $4.90 resistance then only enter long, medium term trader accumulate above $4.33 for target $6.30, Stop Loss $4.30

NEO

$NEO / Current Value : $7.58

Enter long above $7.96 resistance or Close to $7.04 Support for Target $10.34, Stop Loss $6.74.

Binance Coin (BNB)

$BNB / Current Price : $6.34

Resistance $6.60, now enter long only above $6.60 for targets $7.33 & $7.94, Stop Loss now at $5.75, Those who are holding from lower levels can exit once near $6.60 and reenter again if price hold above $6.60.

Nikkei 225

$NIKKEI 225 / Current Value : 20680

Last week predicted a target of 20900, so far made a high of 20700, 20900 is a tough resistance to cross, so exit all long positions before 20900 and wait for next price action, strong change of a major pull back from 20900 level.

USD/JPY

$USDJPY / Current Value : 109.37

Above 108.70 if hold then target 111.91, Stop Loss 108.

S&P500

$SPX / Current Value : $2635.96

Major resistance at $2680 level, next move only if price cross and hold above $2680 otherwise pull back will start.

【About Mind Trader】

Mind is a full time trader of Crypto, Forex, Stocks and Commodities, Mind has been trading since 2004, Mind also provide Daily Trading Calls as well as medium to long term recommendations for Crypto, forex as well as other asset class.

Follow Mind on Twitter @mindandtrading for Daily trading updates and market news!

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