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The market data are taken from HitBTC exchange market .
Strong sell on the stock market
global stock markets were hit last week hard, since with the increase in the pension rate of return, the fear of inflation and worries about higher interest rates is becoming stronger. Each of the seven below listed scripts has dropped this week (29. January – 4. February).
In the US, the S&P 500 Index fell this week to 3.9 percent and closed with 2.762. This is the deepest case within a week for the past two years. Given the strong start to the new year, the S&P is risen since the beginning of the year to 3.3 percent. The Index made in January, a big jump to 5.6 percent; the highest start to the Year since 1997.
A harder blow to the German market has taken a hit. The DAX gave this week to 4.2 percent and closed at 12.785; the worst week in almost two years. A bear’s mood was partly due to the higher yields on German bonds. This rose to two-year high, while the losses of the German Bank were reportedly higher than expected by the market.
The Japanese stock Nikkei has delivered the best performance. They fell by 1.5 percent and closed with 23.632. The Bank of Japan has intervened in the market to curb rising pension returns to a halt. The Hang Seng Index of Hong Kong is close behind Japan. He fell to 1.7 percent, and closed with 32.602. The Hang Seng Index remains, with its growth of 9.0 percent since the beginning of the year, a Top Perfomer.
BSE 30 Sensex: Unique bears signs
The bear’s behavior last week suggests a further decline in the BSE 30 Sensex. He has laid down an almost perfect ABCD pattern at the Fibonacci extension 161,8% of the first Legs away from the February Low of 2016 (A to B). An enclosing bear pattern on the weekly chart. The opening last week was higher than the end of the week before. This conclusion was in turn lower than the end of the week before. The High 36.443,98 last week, has surpassed the High of the preceding week. Then, the sale has outweighed the pressure, however, and the Index under the Low of the previous week of pressed. The week ended with 35.006,41. The Sensex has closed with 35.066,75, and fell by 2.7 percent.
The first potential Support Zone is located around the top on the scope of consolidation of approximately 33.865, this is closely followed by a previous, lower Support and Resistance Zone of about 32.686 to 32.565.
Hang Seng Index: it’s time for a Pause
The Hang Seng Index has had a good run. He is risen by up to 19 percent compared to the Deep from the beginning of December. So he has reached last week,a maximum value of 33.484, 1. Last week, the Index has fallen for the first Time in this eight-week course. In the case of 1.7 per cent, and the final with 2.601,8 indicate a probable Change in the continuous rise pattern.
In General, the Hang Seng is quite strong. He is three weeks ago on its maximum value of 31.958,4 from the year 2007 to be broken. At the same time, he has also broken above the upper boundary of a multi-month ascent-trend-channel. Both are evidence of strength. However, it looks as if he’s doing it in the next time to take a break, even if this takes a very long time. There’s a change in his pattern of by is to go on the ascent and then the 14-week RSI. This impulse-indicator with a maximum value of the level of 82,75 two weeks ago, the most overbought since the record high from the year 2007. Furthermore, two harmonic relationships flow together shortly before the current the upper end of which originate from previous turns.
crypto-currencies: a General descent
crypto-currencies have a tough week behind, as it is already in all since the beginning of the year. 211 crypto-currencies only four Accruals were recorded. The eight below mentioned are crypto-down currencies, for slightly more than 10 and up to 26 percent.
The bears atmosphere through the Interplay of several factors. Examples of this are:
Worries about stricter regulations in India announces plans for stricter regulation. Large banks, such as Citigroup, JPMorgan and Bank of America, have banned the purchase of crypto-currency with your credit cards. Facebook has banned ads for crypto-currencies and ICOs. Premiums for Bitcoin to drop in South Korea. Japanese authorities are investigating at Coincheck, after a theft of NEM Coins to the value of nearly 401 million euros.
formed Yet, at the 2. February on Friday in a series of Coins of the classic hammer candle of the bulls. On Saturday, the 3. February, continued Strong rise with rates above the highs of Friday. The Hammer is a reversal pattern that, within one day take place, and very reliable. It is a dramatic and drawn-out decline follows, as we currencies have already seen in the case of most of the Crypto in the last time.
As mentioned last week in this column mentioned, showed Ethereum two weeks ago to be relatively strong in comparison to other crypto-currencies. This relative strength was also last week, noticeably, since the ETH is decreased in comparison to the others, only the half of it. He recorded the lowest decline of 11.8 percent. The Bitcoin has fallen by 20.3 per cent, closely followed by IOTA with 23.5 percent Minus, and then the Dash with a fall of 23.9 per cent.
Dash: Bullish reversal signal at Support Zone.
Although the Dash (DASH/USD) broke last week in the short term under its long-term ascending trend-line, has he recovered quickly and a bullish hammer candle formed. The confirmation that the bulls take the lead we received on Saturday. On this day, the cryptocurrency has risen above the maximum value of the hammer pattern. In the case of its low value of 344 million euros, he was so overbought as recently a year ago. This is one of the 14-day RSI.
Bitcoin Cash: turn candle
The Bitcoin Cash (BCH/USD) formed on Friday a bullish hammer candle and was able to break on Saturday by the upper end therethrough. The Support was about the same Level as the previous Support and Resistance. It is a low was reached a value of about 754,58 Euro. The chances for advancement are good at the Moment. This does not mean, however, that the BCH shoots steeply upwards. Short-term weaknesses should be exploited at low rates, if this crypto-currency developed for a ground. The Chance of higher prices rises with a clear break above the internal case, the end of the trend line. Nevertheless, we should exercise caution due to the fluctuations prevail. And due to the fact that a break above the trend line is not a reliable indicator, if you seek no other confirmations.
The market data are taken from HitBTC exchange market; the graphs for the analysis come from trading view.
