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The market data are taken from HitBTC exchange.
Both the stock as well as the crypto-currency market cracked last week and have made up for their losses. Investors continue to keep after Inflation and rising Rates on the look-out. The 10-year return of the US value of Treasury securities around the world have driven interest rates, and last week, for the past four years, from a peak of 2.93 per cent. However, until now it looks as if these concerns vanish into thin air. The Dollar is falling in comparison to most other Investment property, what is the stock market seemingly helpful. All of the major equity markets were in the green. The Indian BSE Sensex has shown the weakest performance, with an increase of only 0.015 per cent.
Asia last Friday was closed mainly because of the Chinese new year was celebrated. However, the Hang Seng was able to complete his Four-day trading week with an increase of 5.4 per cent at 31.115,40, while the Shanghai Composite has risen by 2.2% and 3.199,16 has closed. In Japan, the Director of the Bank of Japan (BOJ) has announced that he will stay for another term. This is interpreted as a Signal for a still supported, and loose monetary policy. This was taken by the markets positively and the Nikkei 225 rose by 1.6 per cent on 21.720,25 for the weekend.
The S&P 500 has risen in the last six days, every day (and a rest phase or Pullback is due). That alone should lead to an Investment Pause because the chances for a Pullback or at least a rest phase, in the near future are high. In the new week, the U.S. financial markets on Monday are closed due to a government and Banking holiday. This could affect the liquidity in global markets in the new week.
the German DAX Index
The DAX has got two weeks ago,at 13.003, 4 is a Support. There, he has completed a Fibonacci Retracement of the preceding rise of 88.6 percent. So he was removed 11.7 percent from its record high of 13.596,90 from a month ago. This in-Depth Support was a variation in depth in August of last year, in the case 11.868,80. The 14-day RSI, the Relative Strength Index was clearly in the oversold area. This RSI was oversold since August of 2015, the most. This means that the upward trend in the structure of the high variation in high and higher variation has lower lows. At least until now. Therefore, it could soon have a proper recovery. This also means that the Low is in August, the critical Support. A break below this threatens the larger bull trend, with a deep corrective phase.
S&P 500 Index (SPX)
The S&P 500 Index has reached four weeks ago,a High of 2,872 thousand, 87. This High was a steep decline to the Support at 2.532,69 followed two weeks ago. The Support was right on the 200-day average (dark red line) and the Fibonacci Retracement of 61.8 percent. It is of little surprise that the price was rejected from the 200-line, as this is a major average, and this was achieved for the first Time in a Long time. Courses tend to be in this line to fall back, or at least held back. Finally, the 200-day average has been achieved-in November 2016 as a Support. Consequently,the rate has risen by 8.7 percent since the High of 2.754, 42 last week.
The SPX has now risen for six days in succession, and thus a Pullback is due. The RSI has reached the Oversold Status in Deep and has risen since then. This is a bullish sign. The character of the Pullbacks from the High of 2.754,42 last week, as well as the associated variation should be monitored for signs and symptoms to see what will happen in the new week. The main support is from two weeks ago is known. A case including a bear-signs. Otherwise, there is still a Chance of a long-term ascent trend.
crypto-currencies: Strong performance throughout the market
crypto-out of currencies with a large capitalisation continues to climb up from their lows of two weeks ago. A positive thing for the sector as a whole, the introduction of Coinbase Commerce last week. This simplifies payments with crypto-currencies to retailers. Including Bitcoin, Bitcoin, Cash, Ethereum, Litecoin, and others.
Litecoin rises with his jump to 64,14 US Dollar (51,66 Euro), or 39.1 percent, and a circuit for 228,24 US Dollar (183,82 Euro) at the top of the crypto currency. Some of the developments seem the ascension, including a planned Fork of Litecoin, Cash, and the announcement of LitePay. LitePay a retail payment program for crypto-currencies, the on 26. February will be put into operation.
XRP, crypto-currency, Ripple, has shown the second best performance last week. It increased by $ 0.20 (€0.16) or 21.5 percent to 1.12 US Dollar (EUR 0.90). There were positive reports from the middle East and other places, as Western Union confirmed that Ripple technology in the company is tested in cooperation with the financial authority of Saudi Arabia.
As the next Bitcoin, Cash and Bitcoin. You are each increased by 17.9 percent and 17.3 percent. Bitcoin Cash increased by 232,90 US Dollar (187,60 EUR) and finished the week with 1.532, $ 90 (1.234,74 euros). Bitcoin closed the week with 10.196 US Dollar (8.212,80 euros) and rose to 1.502,02 US dollars (1.209,87 euros).
A weaker performance came from Ethereum, increased by only 59,37 US Dollar (47,82 Euro), or 6.8 percent, and with 937,38 US Dollar (755,05 Euro) the castle. Also, IOTA proved to be comparatively weak, since it increased by only 0.16 US Dollar (EUR 0.13) or 8.5 per cent, and with 2.10 US Dollar (1,69 Euro) the castle.
Ripple (XRP/USD): break out of the falling bullish wedge
The Ripple is about seven days from a bullish wedge broken pattern. The initial break-through rally in the crypto-currency to $ 1.23 (€0.99) lifted has offered up the Resistance of this stop. At that time, the rate of 118 per cent above its Low of 0,562 US Dollar (EUR 0.45) of two weeks ago. This Deep has completed a Fibonacci Retracement of the preceding rally of 88.6 percent. Thus, the rate of XR is P/USD 82.6 per cent below its record high of 3.35 US dollars (2,70 Euro) from the beginning of January. After the initial jump up to $ 1.23 (€0.99), the Ripple is a Pullback to test the Support of down trend line. After that, he climbed back to the top. The Pullback on the Intraday to see the chart better than the daily. This is a classic bullish price movement. First, there is an outbreak, then an increase and a Pullback to test the previous Resistance as Support. Then, the increase continues.
All of the above aspects suggest that the Ripple has reached its low value and he will climb in the next few weeks or months, mostly to the top. Therefore, you should observe the price at moments of weakness, at low rates, whether for Investment or trading purposes. You should look at the down trend line is not to support the signs, if there are Pullbacks.
IOTA (IOT/USD): another breakout from a wedge, but a little less determined
five days Ago, also the IOTA from a case of cops ends of the broken wedge. This wedge is not quite as clear and determined as of the Ripple. Because of the wedge in the case of IOTA is located within a larger downward trend, but still, it is a wedge. In the course of IOTA/USD has reached two weeks ago, a floor of 1.20 US Dollar (EUR 0.97). He then rose to 84 percent, as it was on the basis of the high of 2,212 U.S. Dollar (EUR 1.78) from the Saturday will see. Next, he must confront the potential Resistance at its down trend line. This is at the record high of 5.80 US Dollar (€4.67) in December. At the Low of two weeks ago, the Coin has fallen by up to 79 per cent from this High.
In view of the scale of the recent Retracements, as well as the response of the lows, it looks as if this was the lowest value for the IOTA. In addition, the 14-day RSI rises, since then, he has crossed the Oversold line.
The market data are taken from HitBTC exchange and the diagrams for the analysis come from trading view.
