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Historically, January has always been a weak month for Bitcoin and 2018 is no exception. Some believe that this is due to Chinese investors converting their Bitcoins into currency in order to buy gifts and gifts to celebrate the Chinese Lunar New Year, which falls in February. After all, the Chinese market is one of the main players in the crypto world
However, the same behavior does not apply to equities because the markets of Hong Kong and China have been among the most successful. The stock markets are outperforming the crypto markets, at least in the first month of the year.
There are only a few days left in January, it remains to be seen whether the fortunes of the big crypto- turn in February.
BTC / USD
Bitcoin refused the 20-day EMA on 28 January. We had suggested a long position on a fence higher than $ 12,200, which did not trigger.
<img alt=" BTC / USD "src =" https://cointelegraph.com/storage/uploads/view/c74945f36214c7e11ef2807660c6f730.png "title =" BTC / USD "/> In the very short term, we find another descending triangle model as shown in the table, which will end on a scale and close under the levels of $ 9920.
Below this level, we will probably see 39 Other sales pressures aggressive bulls that have accumulated near levels of $ 10,000 to $ 12,000 waiting for a peak.
Panic selling can drag the BTC / USD pair to $ 8,000 and potentially even lower at $ 6,000.These lower levels seem scary, but please note, we are not trying to instill fear in the traders. the possible lower levels developing according to the graphic models.
It is important to Bear in mind that if Bitcoin goes out of the $ 12,000 levels, it will invalidate a bearish model; and it's a bullish sign
Therefore, our recommendation is a likely long position at $ 12,250, with a stop loss of $ 9,900 and a goal of $ 14,000. In the range of $ 9,900 and $ 12,200, we find no purchase configuration.
ETH / USD
We hold long positions in Ethereum starting at levels of $ 1,000. We recommended recording partial profits of $ 1,170 in our previous analysis.
<img alt=" ETH / USD "src =" https://cointelegraph.com/storage/uploads/view/d79412696d1963e571f2a9e1ae6d8199.png "title =" ETH / USD "/> Yesterday, January 28, the Ethereum Gathered at an intraday level of $ 1,265, or nearly 78.6% retracement of the recent fall from $ 1,424.3 to $ 770.
Traders may keep a stop loss of $ 1,000 on the remaining position because if the ETH / USD remains above $ 1,160, it is likely to attempt a break above the levels $ 1,284.28
If the level of $ 1,000 breaks, Ethereum is likely to slide towards the trend line.
BCH / USD
Yesterday, January 28, Bitcoin Cash broke the small head resistance at $ 1,700, but n & # Could not continue to build on gain.
<img alt=" BCH / USD "src =" https://cointelegraph.com/storage/uploads/view/5b5b0ed866ec6167 8583b9315752e193.png "title =" BCH / USD "/> The cryptocurrency has dropped again and dropped below $ 1,700 levels. On any upward movement, bulls are likely to face a strong 20-day EMA resistance, which is roughly at the same level as the downtrend line. Above, the next resistance level is $ 2,072.6853
The BCH / USD pair will become positive in the short term only after it exceeds $ 2,072.6853. By then, all withdrawals will likely be sold
On the downside, a drop below $ 1,364.9657 will plunge the price to $ 1,141. We do not find any purchase configuration, so we do not recommend long positions.
XRP / USD
Currently, Ripple is trading at the center of the range. It is likely to fall to the lower end of the range if it breaks down immediate support to $ 1.09
<img alt=" XPR / USD "src =" https://cointelegraph.com/ storage / uploads /view/fad565259db65e63a66dd0bcfc1d66a8.png "title =" XPR / USD "/> We expect the XRP / USD to remain in the $ 0.87 to $ 1.74 range for the next few days or the breakout to initiate new long positions
XLM / USD
While the general sentiment towards the crypto community remains weak, Stellar refused to resist overhead. of the trend line, as we predicted in our previous analysis.
<img alt=" XLM / USD "src =" https://cointelegraph.com/storage/uploads/view/377581b5ab38a930d0ec41eba06bf201 .png "title =" XLM / USD "/> The 20-day EMA and the trend line support are close – that's it. that's why we expect the $ 0.55 levels to hold. We can initiate long positions once the XLM / USD has broken the $ 0.671 mark. We expect a new test from the highs, with low resistance at levels of $ 0.732
But if the support of the trend line breaks, a 50-day fall to the SMA is likely. We will only buy on a strong rebound of the trend line
LTC / USD
Yesterday, January 28, the bulls attempt to carry Litecoin higher faced a resistance to 20 days EMA. . Now we are planning another round of sales by the bears at the break below the $ 175 critical support.
<img alt=" LTC / USD "src =" https://cointelegraph.com/storage/uploads/view/da0a0903169bf12ac8dd30657b3b52b6.png "title =" LTC / USD "/> If stocks manage to stay below at $ 175, a drop to $ 140,001 and $ 85 is likely
Our bullish opinion will be invalidated if the LTC / USD
XEM / USD
We had expected that NEM would experience resistance at the $ 1 level of both moving averages and that's what happened
<img alt=" XEM / USD "src =" https: // cointelegraph If the bears fail to sink the cryptocurrency back below the downtrend line, we expect a range of trading between $ 0.8 at the lower end and $ 1.2 at the upper end.
The XEM / USD pa It will become positive in the short term on a breakout and close above $ 1.21. Currently, we are unable to find reliable purchase configurations, so we have no recommendations for trading.
ADA / BTC
Cardano is currently trading in a narrow range of 0.00005 and 0.00006. If support for this beach breaks, a fall to 0.00004730 and then to the lower end of the largest range at 0.00004070 is likely.
<img alt=" ADA / BTC "src =" https://cointelegraph.com/storage/uploads/view/446356ca011fb68a586f591644a5e754.png "title =" ADA / BTC "/> However, if the bulls defend the 0.00005 levels again, the beach-related trading action will continue for a few more days.
Within this narrow range, we find no bullish pattern, so we do not recommend any trading on the ADA / BTC pair.
Market data is provided by HitBTC exchange; the charts for analysis are provided by TradingView.