BitPR Weekly Market Overview: 25 Jan 2019

In collaboration with MIND Trader (@mindandtrader)
25 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 25 Jan 2019.

Weekly Crypto Market Review

(19-25 January 2019)

7-day Crypto Market State. Source: Coin360 https://coin360.com/sharing/l76jtkjhpx_1547717896354

Crypto total market cap ended the week down $2 billion, but the important thing is prices are still holding above above key support levels. Consolidation is good for long term trends and we could expect some wild moves in the next couple of weeks.

Crypto Market

Total Mkt Cap (3D Chart) Current Value: $120.3 Billion

Lost $2 Billion from last week, but the good thing is that still consolidating above $119B-$120B supports, Market need to hold above $120B for next rally towards $145B. Below $120B next important Fibonacci ratio supports at $119B & $111B.

AltCoin Market

Market Cap (3D Chart) Current Value : $57.2 Billion

Not much change from last week and good this is that still holding above $56B support, Above $56B next logical target is $74B, Below $56B next important Fibonacci ratio supports at $55.6B & $50.9B

Bitcoin (BTC/USD)

$BTC / Current Value: 3575

Not much Change from last week, for safe Trader enter long only if #BTC cross and hold above $3700 or close to $3490 support for Targets $3970 & $4300, Stop Loss $3365.

Bitcoin (BTC/JPY)

$BTCJPY / Current Value: 392102

Resistance 398789, Enter long above 398789 for targets 419371 & 465038, Stop Loss 376086.

Bitcoin (Long Position)

Still in uptrend, 27700 Contacts Important Support and 35850 Contacts resistance, expecting a breakout if support hold here.

Bitcoin (Short Position)

Some rally towards 27060 resistance possible then pull back and may break below 18870 support.

Ethereum (ETH)

$ETHUSD / Current Value: $116.30

Below $120 Support, so careful now, next support at $111, if break below then next support is way below at $97, safe trader enter long only if price hold above $120 for Targets $130 & $160, Stop Loss $111 for now.

Ripple (XRP)

$XRPUSD / Current Value: $0.3150

Not much change from last week, Enter long above $0.3154 For Targets $0.400 & $0.488 Stop Loss $0.3076.

Litecoin (LTC)

$LTCUSD / Current Value: $32.65

Resistance $33.30, now enter long only if price stay above $33.30 or dip happen then enter long close to $29.49 support for target $41 & $46, Stop Loss $27.50.

Bitcoin Cash ABC (BCHABC)

$BCHABC / Current Value: $127.48

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: $74.95

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: $0.1002

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: $0.056

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

Monero (XMR)

$XMR / Current Value: $46.20

Resistance $47.30, Enter long only if price hold above $47.30 for Targets $51.75 & $60.77, Stop Loss $43.

ZCash (ZEC)

$ZEC / Current Value: $53.97

Safe Trader wait for price to move above $56.80 resistance then only enter long, short term trader enter long close to $51.83 support then enter long for targets $62 & $69, Stop Loss $49.40.

Dash (DASH)

$DASH / Current Value: $72.83

Resistance $73.15, Above $73.15 Targets $78.94 & $91.79, Stop Loss now at $66.

Cardano (ADA)

$ADA / Current Value: $0.0425

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: $4.39

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: $7.62

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: $6.51

Resistance $6.60, now enter long only above $6.60 for targets $7.33 & $7.94, Stop Loss now at $6.24, Those who are holding from lower levels can exit once near $6.60 and re-enter again if price hold above $6.60.

Nikkei 225

$NIKKEI 225 / Current Value: 20790

Multiple resistances between 21000-21800, Avoid long as long as trade below 21800, risky trader accumulate some shorts between 21000-21800 for target 19200.

USD/JPY

$USDJPY / Current Value: 109.746

Enter long only above 110.00 for target 111.912, Stop Loss now at 108.750.

S&P500

$SPX / Current Value: $2642.33

Avoid longs below 2680, if price dips below 2600 then enter short and target 2460.

 

About Mind Trader

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

Follow Mind on Twitter @mindandtrading for daily trading updates and market news.

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