Week in review: crypto-currency and stock market

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The market data are taken from HitBTC exchange.

global stock markets: fear and uncertainty come back

in The global stock market had been hit quite a lot of plugging in the last week, the US market is the hardest. The S&P 500 Index fell to 5.95 percent. This was the largest loss within a week for over two years. The Interplay of various factors that have to do with higher interest rates, seems to have investors deterred.

A possible trade war has gotten wind than China against action has been announced. These were directed at the Plan of the U.S. President, the duties for the second largest economy in the world.

According to China's Ambassador this could include counter-measure, a reduction in the purchase of government bonds. Prior to that, global financial have warned markets for years.

Also, the sentiment towards U.S. Tech companies, which act globally and the US bull market, has deteriorated. Facebook has contributed to this change of mood by its more or less effective attempt to solve problems with private data. This was recently open to the public. The share fell to 18.6 percent from its record high of 195,32 US Dollar (157,74 Euro) in January, and his weakness is interpreted as a stock market shift in the direction of uncertainty.

The S&P 500 Index closed last week at a key potential Support Zone, which consists of the brown 200-day moving averages (MA) and the 78,6% Fibonacci Retracement. There could be a Support. If not, it would mean a deeper correction with the bears. Finally, the Index in June 2016 has slipped below its 200-day average, but that was not long.

, The British FTSE 100 Index: continuing the bear trend

A continuation of the Bear trend last week the FTSE Index, as it fell below the previous Support of 7.062,10. The week ended for him at the bottom of the range. The 78,6% Fibonacci Retracement Zone has been reached and the short-term Support could lead to a Bounce.

on the Other hand, a case will be under the Low of the last week of 6.877 probably fall under the next Support Zone around 6.790,7, the 50 percent Retracement of a larger uptrend and the previous Support of 6.677. Note that the FTSE average is well below its 200-day (brown line).

the German DAX Index: on the Brink

The German DAX Index re-test its Support, and acts as if he could under this break through. The nearest Support is the recent Low of 11.830,98,and the Low of the last week of 11.818, 70. A clear case of under the Low of the last week will push the Index in the direction of the intersection of Support to the long-term upward trend line and the 50% Retracement line at 11.421,44.

If this does not stop the case, then the DAX is on the way in the direction of the intersection of the 61,8% Fibonacci Retracements at 10.908 and the previous Resistance to 10.820.

crypto-currencies: continued recovery expected

Although five of the eight crypto-currencies that we are watching this week are increased, they were no big climbs. There were a number of important developments, the cops seemingly the mood of the investors either in the direction or bear view. Overall, one can say that most of the Kryptos are in a clear downward trend and below their respective 200-day averages, as well as their down trend lines. The exception to this is Litecoin, which is described in more detail below.

nevertheless, due to the high volatility in Kryptos good trade options on the jumps back to the top. We expect to see a growing strength this week, after the lows in front of one or two weeks, depending on the Coin you look at.

On the bear side, there were some events. Twitter announced plans to ban crypto-advertising, following Facebook and Google have also announced similar bans. In other words: the three largest Online-advertising-platforms are crypto-prohibit advertising. All in All, the fraud counter should and will be good for the markets, because this strengthens the confidence.

In Japan made by the financial services authority, a warning that was addressed to the stock exchange Binance, the second largest stock exchange in the world in terms of volume. Binance was originally resident in Hong Kong and then moved to Japan. The stock exchange was operated in Japan, without a license, what is a duty. Now Binance has decided, after the warning to move to Malta. This announcement has aroused among crypto-enthusiasts concern, as here, deeper issues may come to light.

In the case of the cops, in turn, showed the market is a little more relaxed after the G20 Meeting last week in Argentina. Because there is no crackdown on crypto was specified currencies, but better regulation is proposed. Further actions of the G20 seem to be made States later.

Litecoin: relatively strong,

Litecoin was and is still technically in a stronger Position compared to other Kryptos. As you can see in the Chart below, he is both above its long term down trend line and its 200-day average (brown line). He broke out in mid-February on its down trend line and has since then made a Pullback with very low fluctuations, to test this line as a Support during the recent Pullback from the Low of 137,12 US Dollar (110,74 EUR). The Support was strong enough, he started on the line at the 200-day average. Note that the Support around the 200-day average and made the floors in February, is noticeable. This is a bulls-course behavior, that could lead to higher rates.

A breakout above the One-month down trend line would trigger a new bull signal and the price of LTC/USD could accelerate its growth. First, you should keep to a breakout in the direction 165,50 US Dollar (133,65 euros) on the look-out. His strength besmakes a rally over 175,50 US Dollar (141,73 Euro).

IOTA: the strongest value development this week

A potential head and shoulder pattern has formed on the Chart of the IOTA. He has the strongest value of development last week and is increased by 0.27 US Dollar (€0.22), or 24.9 per cent to 1.36 US Dollar (EUR 1.10). As with all chart patterns it takes a outbreak to confirm the validity of the pattern before taking a trade signal is to watch. It comes to an outbreak, if he gets clear of 1.53 US Dollar (EUR 1.24).

The minimum target of the declining pattern is approximately 2.03 US Dollar (EUR 1.64). A case under the bottom of the right shoulder at 1.24 US dollars (€1.00) changes the pattern structure and could lead to a failure of the pattern.

The market data are taken from HitBTC exchange and the diagrams for the analysis come from trading view.