Crypto markets analysis 29/01/2018

Cryptocurrency prices post declines on Monday after Japan’s Financial Services Agency (FSA) announcedthat it may conduct on-site inspections of domestic cryptocurrency exchanges in response to Coincheck’s $530 million hack. The Bitcoin price led the retreat with a five percent decline, and most other top-tier coins followed suit .

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And also this decline is caused by the announcement of Russia that it may regulated bitcoin and crypto durring this year .

crypto markets

Picture from Coinmarketcap

After reaching 12500 USD yesterday, Etehereum made a small correction today and now it’s trading around 1190 USD, also Litecoin is traded around 182 USD,after being traded around 192 USD yesterday, also bitcoin cash is traded around 1683 USD right now, after reaching 1700 USD yesterday .

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Bitcoin : 

Bitcoin is a facing a strong resistance line at 12000 USD, if it break this resistance the next target will be 13000 USD, then 13500, the strong support level of bitcoin is around 10000 USD, if BTC fall below this level, the next support line will be 85000 USD, but the bearish signals are more then the bullish signals on the daily chart of bitcoin .

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Here the events durring the next month that can cause another uptrend or downtrend for the price of bitcoin :

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CRYPTO TRADING

The expiration of contracts for bitcoin futures

CBOE
January is already closed, the following dates:
February 14, 2018 
March 14, 2018
April 18, 2018
Proof: http://cfe.cboe.com/cfe-products/xbt-cboe-bitcoin-futures

CME Last Friday of the month at 16:00 Chicago time:
January 26, 2018
February 23, 2018
March 30, 2018
April 27, 2018
Proof: http://www.cmegroup.com/…/bitcoin_contract_specifications.h…

❗️Why should we know these dates?

Its is important for you to know this dates because, these events can have a strong impact on the price of coins and the general market as a whole.

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Remember the effect of the CBOE’s futures contract expiration on the market and prices of coins last week. This event caused a decrease in the price of BTC by 34.5% and market cap fell by 50%, from 840 billion to 420 billion in the same period.

So it is better we take note of these dates so as to better position ourselves in future.

chart

Bitcoin chart from coinmarektcap 

 

Ethereum : 

 

Ethereum show bullish signals on the daily chart, the trading volume has increase durring the past 24 hours, entry point from : 1100 USD to 1200 USD, take profit : 1350 to 1400 USD, stop lose : 1050 USD .

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The events that can cause an uptrend or an downtrend for the price of etehreum durring the next month :

16/02/2018 : ethereum (ETH) Ethereum Denver Hackathon, source here 

08/03/2018 :  EthCC (Ethereum Community Conference) is a conference that will take place in Paris at the Conservatoire Nationale des Arts et Métiers PROOF .

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Ethereum chart from coinmarektcap 

 

Litecoin : 

the trend lines are currently extremely bullish , support is at 192-193.50 , huge resistance at 200, if volume is large enough to break through then next resistance will be in the 210 range.

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If we break the current bullish trend then we still have some support at 190.

In the chance that things completely turn around, the lowest i see it going is 160, but I do not see this happening any time soon.

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I advice you to buy if the price break the risistance levels of 210 USD to 250 USD, because this will lead the price to the targets around 400 USD to 500 USD .

 

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Litecoin chart from coinmarektcap 

The next events that can cause an uptrend or a downtrend in the price of LTC :

11/02/2018 : Litecoin (LTC) Closing Basemarkets source  .

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26/02/2018 : Litecoin (LTC), LitePay, « official public launch is scheduled to be the 26th » .  source .

 

Bitcoin cash : 

We can see that Bitcoin Cash  has been struggling to regain its bullish momentum, however we find ourselves in a tight trading range between 1500 – 1700.

In this kind of scenario we would expect to see some action within the next few days.

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Looking at BCHUSD  , a breakout to the topside could take the prices up to the 2000 zone, where we would expect some resistance.

if you see a selloff i advice to open a long term trade from 1300 USD to 1500 USD, the targets profits are from 2000 USD to 2500 USD .

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CRYPTO TRADING

chart (4)

Bitcoin Cash  chart from coinmarektcap 

 

Stratis : 

The daily chart of stratis is very bullish, there is a mjor resistance around 14 USD, if the price confirm the break out , we will see a new all time high price the targets are 25 USD, 30 USD .

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the upcomming events that cause a downtrend or an  uptrend for the price of Stratis :

31/01/2018 : Stratis (STRAT) First Verified ICOs, These 2 verified Stratis ICOs « will not start until at least the end of January ». One of them is « an industry leader in China ».

16/02/2018 :  Stratis (STRAT) Bitcoin Super Conference v.

chart (5)

Stratis  chart from coinmarektcap 

 

 

Lisk : 

 

There is bullish signals on the daily chart of lisk, Important Resistance Levels: $26.79, 25.00, 24.17 , Important Support Levels: $22.44, 22.33  .

The next events that cause an uptrend or a downtrend movement in the price of lisk :

20 February 2018 Lisk (LSK) Rebranding (a major technical update on the lisk platform) .

 

 

chart (6)

Lisk  chart from coinmarektcap 

Read also :

Crypto markets analysis 27-01-2018

 

 

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