In collaboration with MIND Trader (@mindandtrader)
11 Jan 2019
The BitPR Market Overview focuses on technical trading patterns in cryptocurrency markets with a focus on major cryptocurrencies.
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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 11 Jan 2019.
State of the crypto market
After initial gains, the crypto market shed all weekly gains in the last couple of days and ended the week down $6 billion. Altcoins alone lost $4 billion. ETH again dropped out of 2nd place in total market cap.
Crypto total market cap
#CRYPTO Total Mkt Cap (3D Chart) Current Value: $123.4 Billion:- Find it difficult to move above $145 Billion resistance, this week made a high of $140B but couldn’t sustain at the higher level and lost $6B from last week. Now again $120B important support is to watch out, if hold here then another move towards $145B is possible. Support is still at $120B and below that important Fibonacci ratio supports at $119B & $111B.
Altcoin total market cap
#AltCoin Market Cap (3D Chart) Current Value : $59 Billion :- Made a high of $67 Billion this week, but couldn’t sustain at higher level and lost $4B from last week, now again important support to watch out at $56B and below that important Fibonacci ratio supports at $55.6B & $50.9B, if price hold supports here then another rally towards $74B-$76B resistance possible.
$BTCUSD / Current Value- $3634 :- A Bearish Gartley Pattern is completed when price touched $4100 level, Price already below Bearish Gartley first down target and final target now at $3485 level, Enter long if price hold above $3660 or dip happen then enter long close to $3485 for target $3930, Stop- Loss $3450.
$BTCJPY / Current Value – 394531 :- Important Support now at 381595.26 if price hold here then Bullish Gartley pattern will complete, Enter long above 381595.26 for Bullish Gartley targets of 421401.42 & 463603.46, Below 381595.26 exit all longs.
$ETH / Current Price : $127 :- A Bullish Cypher Pattern is developing here, Enter long above $122 for Targets $136 & $146, Stop Loss $117.
$XRPUSD / Current Value- $0.327 :- Enter long above $0.315 for Targets $0.400 & $0.488, Stop Loss $0.307.
Bitcoin Cash ABC (BCH)
#BCHABCUSDT (#Binance) Daily, $BCHABC / Current Value- $128.27 :- Avoid fresh long now, fresh long only if price hold above $144 for targets $229 & $271, Stop Loss $120.
Bitcoin SV (BSV)
#BCHSVUSDT (#Binance) Daily, $BCHSV / Current Value-$73.52 :- Avoid long now, if price dip near $68.35 then enter long for target $83.30, Stop Loss and Support $63.30.
#XLMUSDT (#Binance) Daily, $XLM / Current Value-$0.1030 :- Avoid long now, Support $0.1025, below that next support at $0.0942, Resistance at $0.1096, enter long only if price move above resistance.
#LTCUSD (#Coinbase) Daily, $LTCUSD / Current Value – $32.97 :- Last Week Touched both our targets and made a high of $41.30, Now important support at $32.83, if break below then next down target will $26.39, where a Bullish Harmonic pattern will complete, avoid long now, wait for price action first.
#ADAUSDT (#Bittrex) Daily. $ADA / Current Value-$0.0418 :- Last Week recommended to enter long above $0.039 for target $0.054, after that ADA touched target and crashed, now support at $0.0425 below that next support at $0.0335, avoid long now, enter long only if price move above $0.0456 resistance.
#XMRUSD (#Bitfinex) Daily, $XMR / Current Value-$45.43 :- Failed to move above $57 and crashed, now wait for price to dip near $42.43 to enter long for a target of $51.66, Stop Loss $41.
#DASHUSDT (#Bittrex) Daily, $DASH /Current Value- $70.34 :- Enter long above $66.72 for targets $78.94 & $91.79, Stop Loss $62.
Binance Coin (BNB)
#BNBUSDT (#Binance) Daily, $BNB / Current Price- $5.75 :- Enter long above $5.40 for Targets $7.31 & $7.56, Stop Loss $5.10
#XEMUSD (#Bittrex) Daily, $XEM / Current Price :- $0.056, Short term trader avoid long, only long term Investors keep accumulate for a medium term target of $0.32.
Ethereum Classic (ETC)
#ETCUSD (#Coinbase) 4 Hrs Chart, $ETC / Current Value-$4.58 :- Support $4.44 and Resistance at $4.90, Avoid long now, enter long only if price move above $4.90.
#NEOUSDT (#Bittrex) Daily, $NEO / Current Value-$7.68 :- Support $7.04 and Resistance at $8.30, Avoid long now, enter long only if price move above $8.30.
#ZECUSD (#Bitfinex) Daily, $ZEC / Current Value- $58.37 :- Enter long above $54.35 for Targets $60.97 & $68.70, Stop Loss $51.50.
Nikkei 225 Index
#NIKKEI 225 FUTURES (#CME) Daily, $NIKKEI 225 / Current Value- 20365 :- Last week recommended to enter long above 19200 for target 20250 and now price above target, new support now at 20100, above that target will be 20900, exit long if price break below 20100.
#USDJPY (#FXCM) 4 Hrs Chart, $USDJPY / Current Value-108.29 :- Not much change from last week, Same strategy right now, enter short if break below 107.10 for target 103.99, if price break out above resistance then enter long above 109.60.