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The market data are taken from HitBTC exchange market .
While crypto last Eoche currencies could a little sigh of relief, were met with the traditional markets around the world particularly hard. We got a strong nosedive in the entire stock market. It seems that the General mood would be in the world due to, if you look at the Severity of the break-ins.
The reason for the sale trend are mainly the concerns over rising interest rates and higher inflation probability. The revenue of the global economies and companies are in General quite well and seems to be well agreed that the reason for this lies more with the technology, and the global mood than basic things. If this is true, chances are good that the upward trend will continue.
That was already the second week that there was a strong sale. In addition, tremendous technical damage to the charts were caused, of which the market will only recover with time. And it is not yet clear whether the low values were reached. Recently, the U.S. market has on Friday evening, 9. February, a little rest, and this short-term bull sentiment could be brought up at the beginning of next week. Since last week, from 29. Until January 4. February, the markets negative. At the beginning of the year, before the Start of the sales trends, showed global stock markets, a relatively strong performance.
The Shanghai Composite has made a case to 9.6 per cent in the first step downward and closed at 3.129,55 percentage points. Close behind, the Hang Seng followed with a decline of 9.5 percent. Further back is the BSE 30 Sensex with a fall of 3.0 per cent, of the castle, with 34.005,76 points. The FTSE 100 followed with a decline of 4.7 percent and a final 7,443,40 percentage points.
FTSE 100 Index: break-in on the low values of a year of consolidation
The decline of the FTSE 100 by 4.7 per cent in the last week led directly through a series of significant technical price support to the Resistances and Supports from the years 2015/2016 and 2017. The week low was 7.073,00, not too far from the week’s conclusion of 7.092,40 percentage points (weak conclusion). A level of 61.8% Fibonacci has been completed Retracement of a medium-term upward trend in 7.089,20 percentage points.
If we add the multi-month Test of the Support around the Level of 7.097 up to 7.073 by 2017, the Low of the last week, as it would have a good Chance to move briefly upwards again. Even if that were the case, and the Low of the last week will be broken down, is the Fibonacci Retracement from 32.8 per cent of the long-term upward trends in 7.027,10.
The more bearish perspective focuses on the fact that the FTSE is in the last two weeks due to a one-year consolidation zone, without stops due to broken. This case came directly after a bull breakout, seven weeks ago. It is a clear failed breakout. On the way down, the Index fell below the two rising trend lines and closed each week, under the long-term line. In addition, the circuit is well below the line. It is interesting to note that the two trend lines shown on the accompanying graph, suggesting a possible Support in the same Zone. But the market does not seem to have interested in it, because he has broken these lines directly.
A new jump upwards from the current Levels, it could face a Resistance around the convergence of the two lines at approximately 7.272 up 7.289.
China Shanghai Composite: deep fall from a two-year ascending channel
After he had achieved two weeks ago,a Two-year High of 3,587, 03 percentage points, pushed the Shanghai Composite Index quickly on a Resistance and fell down. Since the Low last week of 3.062,74 percentage points, of this peak from to of 14.62 percent. The Resistance in this High-is expressed by a plurality of Fibonacci Resistances, including the Retracements of 38.2 percent of the long-term downward trends.
last week there was a Signal for the continuation of the Bear trend than the Index from a two-year ascending trend channel is broken, and under the recent Low of 3.254,18 fell. So far, the collapse is due to the size of the movement below the line, and the Week is concluded in the lower quarter of the week range is crucial. Note also the convergence of the short Horizontal across the bottom of the recent lows, with the upward trend line. This suggests a potentially stronger support; but that was quickly nullified, and showed that the bears are behind this movement.
crypto-currencies: overthrown, but in the process of recovery
at the beginning of last week, the crypto-currencies have continued their descent. But for all of the Support, which then caused jumps to the top. It is agreed that the reason for the change from bear to bull mood, the positive and Mature perspective of Christopher Giancarlo, Chairman of the Federal trade Commission commodity Futures (CFTC), is for the crypto currency area. This he had stated in his report before the Bank Committee of the Senate last Tuesday. The and the report by Jay Clayton, the Chairman of the securities and exchange Commission (SEC) helped to mitigate the growing concerns among investors. This had the concern that regulatory authorities would take a harder line in the United States, what would the world beat a negative wave.
After the rates had reached their low point, followed by a strong Rally in the eight major pairs. While Bitcoin has made at least 50 percent well again, while most of the other have risen to 70 percent. With the exception of the Ripple is increased until Saturday to 110 percent.
nonetheless, a Downtrend is when the crypto-currencies. It is waiting for a confirmation of the Stäkre, which could lead to a sustainable upward movement. So far, predominantly V-shaped floors are to be seen asit would not be surprising if there would be another Test of the lows from last week. This serves the purpose of ensuring that a sustainable bottom has been reached, if that is the case. So far, there is little confirmation of this. But it looks as if this could be the case.
This week we observe the graphs of Litecoin, and Ethereum, where Litecoin has the strongest and Ethereum is the weakest performance. However, there is evidence in their charts that suggest that you could put a relative strength on the day. The XRP chart shall also be borne by such notes. Litecoin castle this week, with an increase of 25.6 percent in 164,10 US Dollar (133,78 Euro) and the ETH fell by 4.9 percent to 878,01 US Dollar (715,80 Euro).
Litecoin: double bottom possible
Litecoin reached at the 2. February a low of 100,20 dollars (81,69 Euro). He was in Support of an uptrend line which was previously a Resistance, and just below the Fibonacci Retracement of a medium-term upward trend of 78.6 percent. Since then, he has formed a potential double-bottom trend reversal pattern with the Depth of the second soil in 103,65 US Dollar (84,50 Euro). However, an eruption from the ground, and, consequently, a confirmation of the bulls is not in sight, as long as there is no Rally over 175,00 US dollars (by 142,67 Euro).
A further sign of strength in the case of this crypto-currency Rally back above the previous lows at 144,00 US Dollar (117,40 EUR) and 135,00 US Dollar (110,06 EUR) of the current decline. This is the relatively positive technical note, which was mentioned above. Similar price behaviour is also Ethereum.
Ethereum: technical rebound up to the previous Support
Saturday night, 10. February, is Ethereum jumped again to almost 60 percent. The starting point will be Low of 565,54 US Dollar (461,06 Euro) from last week. This jump coincided almost exactly with the Fibonacci extension of EUR 141.4 percent in 565,07 US Dollar (460,67 euros) from the previous rise. But there was no further confirmation of the potential importance of this price support levels. Therefore, this crypto-currency remains a clear downward trend. However, just as in the case of Litecoin, he puts a significant Rally, hung, and shot over its previous Low at 770,00 US Dollar (627,74 euros) by mid-January. This could be a sign of relative strength, but we will still need to watch how the price will behave in the new week.
The stock market data come from HitBTC exchange and the diagrams for the analysis come from trading view.
