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The market data are taken from HitBTC exchange.
global stock markets: Mixed price development
global stock markets last week, on different levels. The Indian BSE 30 Sensex Index showed a gain of 2 percent, while the S&P 500 Index has lost 1.4 percent. The fear of the trade war has had a hard on the shares, because the tensions between China and the United States seemed to intensify, with U.S. President Donald Trump on Thursday with new duties against China has threatened.
These threats were the response to the announcement of China that has collected on Wednesday, for its part, new tariffs on 100 American products. The Worries of the investors will be reinforced by the fact that this conflict takes place rates against the Background of Trends in the direction of increasing interest. It is probably unnecessary to mention that it is unclear how this will end. And the markets are, therefore, good reason to be nervous.
Technically, it was in over the last eight weeks, only small progress in most of the major stock markets. The indexes continue to test the Support, after it came to sales since the record highs of January. The upward trends are still present, but the stock markets are on the verge of falling deeper. That would be a longer lasting correction, if the recent price-Support Level to be broken down.
The trade will probably continue to be an important drive for the investors ‘ mood this week. Chinese President Xi Jinping is planning a major speech on Tuesday. Later this week, there could be a positive announcement regarding the Revisions of the North American free trade agreement (NAFTA). Because US President, Trump, the Prime Minister of Canada, Justin Trudeau, and Mexican President Enrique Pena Nieto are meeting in Peru at the summit of the Americas.
Next week, the catch of the winnings to Announced. Surprises could have an impact on the market as a Whole.
the Japanese Nikkei 225 Index: breakout of the bull wedge
last week, the Nikkei 225 Index has risen by 0.53 percent and broke out of a bull wedge in the early stages. It remains to be seen whether the recovery is large enough to carry the Index back above the lower ascending trend channel line, where you could see last week a Resistance.
The outbreak has brought the Index back above the 200-day average (SMA, red), which is positive. The first Leg down from the February high could be seen a Support at the 200-day average line, which has led to a Bounce to the Resistance at 22.502,05. This is now the potential target of the breakout from the bull wedge. But if the Nikkei comes about is actually about the upward trend line, is the Resistance Zone at the 50-day SMA close. This is currently 21.922,87.
in the Short term we could see a Pullback in the direction of Support of the 200-day average, which now stands at 21.550,42, before the Index, charging again on the Resistance.
Hang Seng Index: traction from the bottom
The Hong Kong Hang Seng Index was in the last couple of weeks under pressure, as he has always closed below and well below its upward trend line lower (ascending trend channel). Last week, he closed with a loss of 0.83 percent, which was the lowest closing for eight weeks, and seems to be going in the direction of its next important trend support zone of the 200-day average.
The 200-day average line, which is now 28.927,75, with the 38.2% Fibonacci Resistance line at 28.903 00 and the previous Resistance from the year 2015 (now potential Support) at approximately 28.588,50 can be combined. So we have the next major target Zone, if the Index should fall. If the Index lies down instead, a rally, he needs to hit with a lot of potential Resistances around, before he can progress forward.
crypto-currencies:
All of the major crypto currencies in the Chart are in the last week. The courses were short before the end, under pressure. Bitcoin is Cash, and IOTA are dropped below the Low of last week, but a downturn is not yet available. The others have held up over the Support of the previous lows of the last week.
It is expected that the Bear trend is to continue until there is a sign of a reversal, be it on the daily, 2-hour Intraday-or the 4 – hour Intraday Chart. Both Bitcoin as well as Ethereum potential reversal point as slow pattern on its 4-hour chart, and these patterns are explained in detail below.
Why were the Kyptokurse under pressure? Thomas Lee, head of research at Fund entered believes Global Advisors, he had the answer to that – investors-sales before the US Tax deadline. On CNBC last week, Lee has referred to his recent report that a minimum of 25 million dollars (20 million euros) of capital gains tax has calculated that the US-Bitcoin and crypto-currency investors for profitable sales have to pay, which they had in the year 2017.
This is a huge sum. If traders do not have the money for the taxes aside, you have made the sales, what they have not done is very likely, investors will sell Kryptos, the have. In order for you to comply with your obligations and push the prices down. Lee has the feeling that there is a recovery until the tax season is over. But he holds to his prediction that Bitcoin will be at the end of the year US $ 25,000 (€20,000) in value.
Ethereum (ETH/USD): Potential 4-hour head – and-shoulder floor –
The overall situation in the case of Ethereum is technically considered more in bearish sentiment, as he is still clearly in a downward trend. However, a short-term pattern is forming that could lead to a Bounce, in which one might act. So far, the decline from the January record of 1,424, $ 30 (1.155,38€) is 74.9 percent, if you look at the recent Low of 358,00 dollars (290,41 Euro).
four weeks Ago the Downtrend is broken through the major Support of the uptrend line and the 200-day average (brown) and continue to favor, how to from the Chart can read. The course has moved on since then, which is clearly below the 200-day average. Nevertheless, the 200-day average is moving up, if only a little. The 50-day SMA is still below the 200-day average.
A Retracement back to below the Resistance of the trend line and the 200-day average, is quite possible. However, there is a need for a Signal that shows that the buyers are more aggressive.
Ethereum has consolidated in the last 9 days of Essentially sideways and looking for a possible bottom. In this time, a potential head and shoulder bottom reversal formed pattern. The RSI shows a bullish divergence.
a bull breakout from the pattern, if a decisive step is made the mark of 418,79 US Dollar (339,72 Euro). The minimum target for this pattern is around 478,67 US Dollar (388,29 Euro). If Ethereum is rising from there, that would should pay attention to the next Level, to the man, the Resistance to the down trend line and the 200-day average, now at 612,91 US Dollar (497,19 Euro).
Alternatively, would be a case under 358 US Dollar (290,41 Euro) a failed bear pattern.
Bitcoin (BTC/USD):
If not quite in such good shape, shows Bitcoin is also a possible head and shoulder bottom pattern in its 4-hour Chart. A bull breakout, it is when he rises above 7.506,84,US Dollar (6.089, 47 Euro) and is confirmed by a daily closing above this Level.
The minimum target for this pattern is about 8.422,68 U.S. Dollar (6.832,39 Euro). Higher potential goal areas of the 50-day SMA at 9.037,US $ 80 (7.331,37 Euro), then the 200-day average and the down trend line currently at 9.488,US Dollar (7.696, 57 Euro). A possible bust, and a bear signal would be seen, if there is a fall below the right shoulder at 6.150 US dollars (4.988,82 euros) and the confirmation of this would be a movement of the head 6.427,US $ 16 (5.213,65 euros).
The market data are taken from HitBTC exchange and the diagrams for the analysis come from trading view.
