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The market data are taken from HitBTC exchange.
With the rise of the Shanghai Composite Index 89,86 points or 2.81% and a final at 3.289,02, has placed China at the top of the global stock markets. One should not, however, forget that the Chinese markets due to the Chinese new year celebration were closed for days until Thursday, and this performance merely for the trade from two days to reflect. Regulatory authorities have on Friday, 23. February, announced that they would take on the status, to anbang insurance and despite this message, the Index was able to climb to the top, which is a sign of strength.
The other six markets were also mostly positive, but no special performance. The UK’s FTSE 100 Index was the only negative market.
Overall, the equity markets continue their rally against movement after they have fallen in comparison to their highs of the beginning of the month.
In Japan has shown the Nikkei 225 Index last week, the second-best performance on the market and has increased 172,53 points, or 0.79 percent and closed with a 3.289,02. On Friday, it was reported on inflation, with the CPI in January compared to the previous year, a 0.9 percent climb. The third-best performance shown by the United States. The S&P 500 Index has gained is 15.08 points, or 0.55 per cent, and last week at 21.892,78 closed. The S&P 500 last week was on the edge of the case, since he was on a horizontal line. But on Friday, he had scooped up. The Index had a strong conclusion, because he has reached a record high for the week. He has also reached a record closing for three weeks.
Hang Seng Index: three weeks-a record closing
The Hang Seng Index ended the week with a three-weeks-and-record circuit, which is a sign of strength. He is risen by 151,80 points, or 0.49 per cent and the week with 31.267,20 completed. Since the variation depth from 21,488,80 in 2016, the Index has climbed in a relatively well-formed, parallel trend channel higher and higher.
two weeks Ago, the bottom trend line, the 100-day were tested-average, and the Fibonacci Retracement of 78.6% of this channel as a Support and can hold. Thus, the correction has been completed to 13,01%, which has been running for two weeks. What relates to the High of 31.477,90, collided with the Index of 8,06 per cent of this Deep and has made at least 50% of the preceding decline.
In the last five days, the Hang Seng is within a range. Therefore, a case is run through the bottom of the lows from last week at 30.720,50 probably continue to be a weakness. It could also come to a Test of the recent bottom from three weeks ago. If he comes about to be High, this would indicate a continuation of the Abpralls in the Fibonacci Retracement of 61.8 percent in 31.820,50. At 31.712 the gap of the decline would be filled in. A rate zone is between about 32.394,90 and 32.552,10. This consists of the three week high and the Fibonacci Retracement of 78.6 percent.
BSE 30 Sensex Index: Finally, a bottom in sight?
The BSE 30 Sensex Index has slowed down, the other stock indices technically, since he has moved in his variation low at 34.008,42. The Deep he has reached three weeks ago. So he is also on the support line of the lower parallel channel, the 100-day average and the Fibonacci Retracement of 78.6 percent. He closed with a decline of 8.13 percent compared to the record high of 36.443,98 two weeks ago. Last week, the Sensex rose by 131,39 points or 0.39 percent and closed at 34.142,15.
However, the soil that develops in this Index is more reliable than what you see in other scripts. Because here we see a potential decline in the double-bottom trend pattern. The three-week low has been tested down through the Low at 33.554,37 as Support and the Index bounced from there to almost on week high. This is a short-term Bull, and played a strong support zone, if you look at the Interaction of the indicators of the paragraphs about the changes. A breakout from the double bottom is in sight, if he exceeds the mark of 34.535.
crypto-currencies: All total low
The leading crypto-currencies last week were generally weak, and have clearly shown worse performance than the stock market. However, these fluctuations were historically easily. Interestingly, some of the Top crypto-currencies still a connection. In other words: Since you are gone from their record highs in the corrective phase, you will be increased generally together and dropped. Of course, in different proportions.
We will be watching the evolving relationship in the next few weeks, continue looking for signs of the leading index and deviations to watch. It would not be surprising if we should see in the next week or the next two weeks, continued short-term weakness. Because the crypto currencies are trying to develop a sustainable soil. So far, the pickups had a V-shape and are somehow not as reliable as fixed floors.
The IOTA has shown last week, the worst performance. Because he is fallen by $ 0.39 (0.32 Euro), or 18.4 percent and closed at 1,71 US $ (1.39 to the Euro). Two weeks ago, the rate of IOT/USD from a case of broken ends of the bull wedge pattern and has made last week a Pullback in the direction of the upper down trend line of the pattern, in order to test it as Support. This process is not yet complete, there is still a short-term Downtrend (7 days). Therefore, it is expected that the crypto currency is rising again, once the Pullback is completed.
Ethereum has laid last week, a similar course of conduct, because it made the Low of the last week of the 787, US Dollar (638 Euro) a Pullback to its Support at the 100-day average at 791,04 US Dollar (642,03 Euro). The outbreak of an internal down trend line two weeks ago. Last week, the price fell from ETH/USD 84,82, US Dollar (68,84 euros) or 9.0 per cent and closed with 852,56 US Dollar (691,96 Euro).
Bitcoin: be on the lookout for further Retracement in the direction of Fibonacci support level
Bitcoin has shown last week with a stronger performance, as he is only down 29,90 US Dollar (24,27 EUR), or 0.30 per cent, and with 10.166,10 US $ (8.251,11 Euro) the castle. Since he has reached three weeks ago, at 5.920 US Dollar (4.804 Euro), the price of BTC/USD, a rally of 98,96% and a High of 11.780 US Dollar (9.561 Euro). This corresponds to a Retracement of 50 percent. In the context of this rally, he broke out of a inner down trend line.
Since its High of last week, makes the Bitcoin a Pullback. Next, you should hold to Support look out for, which could take the cryptocurrency in a second round of its soil, at 5.920 US Dollar (4.804 Euro) and you may be on the High of last week catapulted. The Fibonacci Retracement of 61.8 percent is 8.158,96 U.S. Dollar (6.622,06 Euro), and the Retracement of 78.6 percent in the case of 7.174,61 US dollars (5.823,13 euros). You should keep a lookout for a Support in this price range.
Bitcoin Cash: Seems to be going down
Bitcoin Cash continues to show relatively poor performance when it is considered time, technically. He has shown with his case by 47.8 percent since the beginning of the year, the third weakest performance. Last week, he fell to 277,30 US Dollar (225,06€), or 18.1 per cent, and closed 1,255 US $ 60 (1.019,08€). He broke out of his inner trend line two weeks ago and has put on a rally to the Resistance at 1.636,80 US dollars (1.328,48 Euro), before he slipped in a Retracement, where he is currently. This is the rate of BCH/USD 118,24 percent above the bottom of the recent correction, the day was 750 U.S. dollars (608,72 Euro). Since the December High of 4.001,1 US-Dollar (3.247,41 Euro) is like the course in this Deep to 81,25%.
for a continuation of the decline in the potential Support at the Fibonacci Retracement of 61.8 percent in the case of 1.088,80 US dollars (883,70 euros) on the look-out, and then, after a Retracement of 78.6 percent in the case of 939,80 US Dollar (762,77 Euro). If the Pullback is complete, a recovery to expect, along with the Rest of the crypto currencies.
The market data are taken from HitBTC exchange market; the graphs for the analysis come from trading view.