BitPR Weekly Market Overview: 21 Dec 2018

In collaboration with MIND Trader (@mindandtrader)

21 Dec 2018

These weekly Market Overview installments will focus on technical trading patterns in cryptocurrency market 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 unless otherwise noted. 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 21 Dec 2018.

State of the crypto market

This week the market hit a temporary bottom and bounced right back up. Total market Cap started this week at $104.9 Billion and hit a high of $138 Billion, meaning that Bulls added $34 Billion so far this week. BTC, BCH, XRP & ETH are the main contributors here.

7-day crypto market state. Source: Coin360 (https://coin360.com/sharing/c8vcijsvox_1545054200053)

Crypto total market cap

 

#CRYPTO Total Mkt Cap (3D Chart) Current Value : $132.3 Billion :- As we said last week if $102B-$98B hold here then a rally towards $120B & $145B possible, and Total Market Cap bounced from $100 Billion level and made a high of $138B and added $34 Billion since last week, new support now at $120B and resistance $145B, above $145B next target will be $182 Billion.

Altcoin total market cap

#AltCoin Market Cap (3D Chart) Current Value : $62.5 Billion :- Added $15 Billion since our last week update and also recovered important support level of $50 Billion, near support now between $58B-$56B and resistance $72.8 B, need to move above $90B for Alts season.

Bitcoin (BTC)

#BTCUSD (#Bitstamp) (#Daily Chart) Current Price: $ 4015:- Last week recommended to buy above $3300 for targets $3450 & $3630, #BTC touched a high of $4175 so far. New support now at $3860 then $3630, if hold above $3860 then next target will be $4430, avoid long below $3860.

Ethereum (ETH)

 

#ETHUSD (#Coinbase) (#Daily Chart) Current Price : $114.69 : $100 resistance crossed, $100 now new support, above that target $138, below $100 exit long position.

Ripple (XRP)

#XRPUSD (#Kraken) (#Daily Chart) Current Price :$0.3640 :- Resistance $0.394, if break out above $0.394 then enter long for a target of $0.453 & $0.637, Support & Stop Loss $0.332, avoid long below $0.394.

Bitcoin Cash ABC (BCH)

 

#BCHABCUSDT (#Binance) (4 hrs Chart) Current Price : $203 :- Last week recommended to buy above $92 for target $110-$122, but the price was moved way above our target and touched a high of $230, over 100% move in a week, now support at $160 and resistance at $212, if price hold above $212 then next target will be $286, avoid long below $212, if price dip near $160 then consider long again.

Bitcoin SV (BSV)

 

#BCHSVUSDT (#Binance) (4 hrs Chart) Current Price : $121.59 :- Support now at $110 and resistance $133, if break out above $133 then target will be $205, avoid below $133, if dip near $110 support then consider long entry with a stop loss below $105.

Stellar (XLM)

 

#XLMUSDT (#Binance) (#Daily Chart) Current Price : $0.1215 :- $0.0939 Support (1.27 Fibonacci extension) hold and price bounced towards its resistance at $0.135, now enter long only if price hold above $0.135 for target $0.170, avoid long below $0.135.

Litecoin (LTC)

#LTCUSD (#Coinbase) (#Daily Chart) Current Price : $30.61 :- Last week recommended to enter long above $22 for target $28 & $36, #LTC made a low of $22.20 and bounced and touched a high of $33, a 40% move. now support at $28 and resistance $36, enter long above $28 for target $36, avoid long below $28.

Cardano (ADA)

#ADAUSDT (#Bittrex) (#Daily Chart) Current Price : $0.0384 :- Above $0.034 touched a high of $0.046, now long trade only if trade above $0.043 for target $0.063, support now at $0.034, avoid long below $0.043.

Monero (XMR)

#XMRUSD (#Bitfinex) (#Daily Chart) Current Price : $53.15 : Recommended last week to accumulate between $42-$37 for initial target of $54, #XMR made a low of $38 and touched a high of $56, now if hold above $54 then next target will be $64, avoid long below $54.

Dash (DASH)

 

#DASHUSDT (#Bittrex) (#Daily Chart) Current Price : $87 :- Resistance now at $100, if cross and hold above then next target will be $175, support now at $75, if break below $75 then exit all long.

Binance Coin (BNB)

#BNBUSDT (#Binance) (#Daily Chart) Current Price : $5.55 :- Up 20% since our last week update, Above $5.60 next target will be $7.50 & $8.90, avoid below $5.60.

NEM (XEM)

 

#XEMUSD (#Bittrex) (#Daily Chart) Current Price: $ 0.073:- Volume is still very low, so avoid now, only long term Investors can accumulate here.

Ethereum Classic (ETC)

 

#ETCUSDT (#Bittrex) (#Daily Chart) Current Price : $4.60 : Last week recommended to enter long above $3.20 for target $5.30, so far made a high of $4.90. Resistance $5.30 so need to cross above $5.30 for next bull move.

NEO

 

#NEOUSDT (#Bittrex) (#4 hrs Chart) Current Price : $6.92 :- Up 20% since our last week update, Support now at $6.50, if hold above $6.90 then next target will be $8.90, avoid long below $6.90.

ZCash (ZEC)

#ZECUSD (#Bitfinex) (#Daily Chart) Current Price : $63.83 :- Made a low of $48 last week but good thing is recovered quickly long term support of $52, now if hold above $68 then a rally towards $95 possible, if cross $95 resistance then next target will be $150.

LISK (LSK)

#LSKUSD (#Binance) (#Daily Chart) Current Price : $1.56 :- Up 35% since our last week update, but still technically not recovered much, volume is huge which is good indication, short term trader avoid and only enter long if price move above $2.57, long term Investors keep accumulating.

Leave a comment!

Your email address will not be published. Required fields are marked *

*

CAPTCHA


This site uses Akismet to reduce spam. Learn how your comment data is processed.