BitPR Weekly Market Overview: 28 Dec 2018

In collaboration with MIND Trader (@mindandtrader)

28 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. 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 28 Dec 2018.

State of the crypto market

This week saw a $12 Billion reduction in crypto market cap. Total Market Cap is again back towards the $120 billion support level. Almost all coins have shed 10-20% this week and moved towards support levels. It will be interesting to see whether these support levels hold or if the market will fall further.

7-day crypto market state. Source: Coin360 https://coin360.com/sharing/1toqbhm0hi_1545831262262

Crypto total market cap

#CRYPTO Total Mkt Cap (3D Chart) Current Value : $120.6 Billion :- As we mentioned in our last week post ” a rally towards $120B & $145B possible” and Total Market Cap touched a high of $147B and now retrace, Support now at $120B and below that Important Fibonacci ratio support at $119B & $111B, if price hold above $119B than second leg of rally will start and price will move towards $145B and if hold above $145B then next target will be $182Billion. if break below $119B then exit all long positions for time being.

Altcoin total market cap

#AltCoin Market Cap (3D Chart) Current Value : $57.3 Billion :- Last Week AltCoins Index touched a high of $72.6 Billion, which is a resistance and retrace. $56 Billion near support now, below that Important Fibonacci ratio supports at $55.6B & $50.9B, if hold above $55.6B then once again a rally towards $72.8B & $90B will begin. Below $55.6B exit all long positions for time being.

Bitcoin (BTC)

#BTCUSD (#Bitstamp) (#Daily Chart) Current Price: $ 3599:- Last Week touched a high of $4235 then retrace 61%, now enter long above $3552 for Targets $4235 & $4533, Stop Loss $3490.

Ethereum (ETH)

#ETHUSD (#Coinbase) (#Daily Chart) Current Price : $114 :-Last week predicted a target of $138 but #ETHUSD went way above and touched a high of $159. Now Important Fibonacci ratio level at $111, enter long above $111 if price hold for a targets of $159 & $180, Stop Loss & Support at $106.

Ripple (XRP)

#XRPUSD (#Kraken) (#Daily Chart) Current Price :$0.338 :- A Bullish Cypher pattern is near compleation, enter long above $0.320 for targets $0.400 & $0.480, Stop Loss $0.308.

Bitcoin Cash ABC (BCH)

#BCHABCUSDT (#Binance) (Daily Chart) Current Price : $142.76 :- Last week alerted to avoid long below $212 and after that decreased 30%. Now enter long if price hold above $133 or if dip happen then enter long close to $107 for targets $229 & $271, stop Loss $100.

Bitcoin SV (BSV)

#BCHSVUSDT (#Binance) (4 hrs Chart) Current Price : $81.36 :- Last Week Alerted to avoid long below $133 and after that price droped over 30%. Now wait for price to move above $89.40 to enter long for targets of $110 & $123, Support & Stop Loss $79.

Stellar (XLM)

#XLMUSDT (#Binance) (#Daily Chart) Current Price : $0.107:- Enter Long close to $0.102 for target $0.14 & $0.15, Stop Loss $0.098

Litecoin (LTC)

#LTCUSD (#Coinbase) (#Daily Chart) Current Price : $27.90 :- Couple of weeks back recommended to enter long above $22 for Target $36. LTCUSD exactly touched a high of $36.78 and retrace. Now enter long if price trade above $27.78 or if dip happen then enter long close to $25.33 for Targets $36 & $40, Stop Loss $25.

Cardano (ADA)

#ADAUSDT (#Bittrex) (#Daily Chart) Current Price : $0.036 :- Last Week Alerted to avoid long below $0.043 and after that price decreased by nearly 20% . Now enter long if price hold above $0.035 or if dip happen then enter long close to $0.032 for targets $0.048 & $0.054, Stop Loss $0.030.

Monero (XMR)

#XMRUSD (#Bitfinex) (#Daily Chart) Current Price : $45.19 : Last week Alerted to avoid long below $54 and after that price decreased nearly 20%. Now wait for price to move above $46.95 to enter long for targets $57 and $65.94, Stop Loss $43.20, exit all longs below $43.20.

Dash (DASH)

#DASHUSDT (#Bittrex) (#Daily Chart) Current Price : $74.77 :- Last Week mentioned that $100 is a resistance, DASHUSDT made a high of $102 and retrace, now enter long if price hold above $74.23 or if dip happen then enter long close to $66.64 for targets $102 & $114, Stop Loss $66.60, exit all longs if price break below $66.60.

Binance Coin (BNB)

#BNBUSDT (#Binance) (#Daily Chart) Current Price : $5.17 : Made a high of $6.50 last week and retrace now, Important Fibonacci ratio support at $5.02, enter long above $5.02 for targets $6.35 & $7.10, Stop Loss $4.90, exit all longs if price dip below $4.90.

NEM (XEM)

#XEMUSD (#Bittrex) (#Daily Chart) Current Price: $ 0.065:- No Volume at all, avoid now, only long term Investors can accumulate here with Stop Loss.

Ethereum Classic (ETC)

#ETCUSDT (#Bittrex) (#Daily Chart) Current Price : $4.60 : Price same as last week, but made a high of $5.70 in between, but failed to hold above $5.30 resistance, important Fibonacci Ratio support now at $4.35, enter long above $4.35 for target $8.80, Stop Loss $4.20, avoid any long below $4.20.

NEO

#NEOUSDT (#Bittrex) (#Daily Chart) Current Price : $6.72 :- Last Week recommended that above $6.90 if hold then target $8.90 and #NEOUSDT touched a high of $9.00 and retrace, support now at $6.50, wait for price to move above $6.90 again for enter long for same target, below $6.50 exit all longs.

ZCash (ZEC)

#ZECUSD (#Bitfinex) (#Daily Chart) Current Price : $56.93 :- Made a high of $73.86 last then retrace, Fibonacci Ratio supports now at $58.23 & $53.99 and below that yearly support at $48, enter long if price move above $58.23 for targets $80 & 84, Stop Loss $53.70.

LISK (LSK)

#LSKUSD (#Binance) (#Daily Chart) Current Price : $1.35 :- Down 15% last week, short term trader avoid and only enter long if price move above $2.57, long term Investors keep accumulating.

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