Altcoin-market analysis – Bitcoin dominance despite red week at a new high for the year

While the market has run out of capitalisation of the week again, the important mark of 352 billion US dollars, corrected for the total market at the end of the week, significantly to the current level of 276 billion US Dollar. At the same time the dominance of Bitcoin has risen this week to 68.3 percent.

From Stefan Lübeck
15. July 2019BTC$10.532,00 -0.84%part Facebook Twitter LinkedIn xing mail

All of the Top 10 Altcoins have to cope with on a week of strong losses. Bitcoin (BTC) with a weekly loss of 7.2 per cent, following, must also accept all the Top 10 Altcoins double-digit rate reductions. The largest weekly loss with 27.6 percent of the EOS Coin (EOS) was recorded.

Eight out of ten Altcoins give under the pressure of the overall market on a weekly point of view, more than 20 percent. Only the Binance Coin (BNB) can compete with a week of minus 10.5 percent, relatively good.

It is shown that the Altcoins, the above-average Price mark-downs to show at the moment in every market phase worse performing than Bitcoin, what is it that the reserve currency is once again impressive. The ALT/BTC pairs still look very weak and the majority are in the area of their all-time lows. As long as the already in the last few weeks mentioned the capitulation continues to be in place, should Altcoin to be Trades for the time being, implies postponed until a reversal of this trend.

A look at the market capitalisation

overall in the last issue, raised key brand of 280 billion US dollars market capitalization is currently at risk. This brand should be the end of the week and not timely return of Robert, there is a danger of a further drop in Price in the direction of the June lows at 225 billion dollars, or even a Retest of the April and may highs at 180 billion dollars.

This bearish development of the total capitalization of the crypto market, this week endangered the current since the beginning of April ongoing bullish Trend. The psychologically important mark of 300 billion dollars has not been offered in the last few days below, yet is also the area of the 61 per cent Fibonacci Retracement Level is at 280 billion dollars, stop giving. Timely opportunities to Rise in the direction of the old highs at 440 billion U.S. dollars in April of 2018 without a strong counterattack of the bulls for the time being, unlikely.

The courses at the Top 10 Coins this week thus confirm the negative Outlook in the last edition. Especially the end of the week all the Top Coins have to accept, once again, greater price reductions. Apart from the Binance Coin, the price losses of the rest of the Top 10 Altcoins, compared with the weeks preceding the event, more than average. In addition to the already in the last week, very weak EOS Coin (EOS) to move all the other Coins in the same step to the South.

Best price development: Binance Coin (BNB)

The Binance Coin, the BNB may claim in the expiring week relatively well and falls on a weekly basis, with -9.8%, as the only top 10 Coin for less than 10 percent. However, BNB could not defend his support for 29,34 US Dollar. Currently the 38.2-percent Fibonacci Retracement Level at 26,49 US Dollar has given the course the first Stop. As long as the price can stabilize on a weekly basis above the 25,20 US Dollar, the upward trend is still fully intact. Only a fraction of this brand could lead to a further decline in the direction of the exponential moving average of the last 200 days at 22,70 US dollars and including the super trend from the weekly chart at 20.10 US dollars. Only break of this brand in a positive chart picture of NBB would exert a strong entry.

The RSI as well as MACD indicator currently deliver, but also in the case of BNB, the first bearish signals. On a daily basis, both indicators show a bearish trend. The RSI in the daily chart, the value of 45 under the steps, what is a short signal.

In the weekly chart has formed in the RSI a bearish divergence, and now stands at 58. The mark of 55, this would trigger another sell signal. The MACD indicator is weakening on a daily basis and provides current bearish signals. On a weekly perspective, the MACD is threatening to now get a short signal.

The Bollinger bands in the daily chart turn up the nightcap again, but also to the South, which could indicate further selling pressure. Since BNB works compared with the other Top 10 Coins at the moment still relatively bullish, it means for the time being, wait and the price observed. The Token to Burn in the last week, as well as the continued interest in Initial Exchange Offerings (inner-earth objects) have currently a stabilizing effect on the course. Currently, there is no interesting Trading Setup, it is to observe the rate of Bitcoins continue to closely.

Worst course development: EOS

The EOS-rate could settle this week from the week's lows of last week at 5,86 US dollars upwards. He fell mid-week with a significant price discount by his price-relevant upward trend line at approximately 5,81 US dollars. The break of this support led to a further price drop to the exponential moving average of the last 200 days in to 5.38 US dollars.

The EMA200 gave the EOS-rate, however short, before the price once again above-average, long red daily candlestick of the important price support at 4,40 US dollars delivery. Seven hours before the close of the week the EOS is trying to find a price in the region of the lower edge of the green support zone Holding. A Collapse of the overall market, is likely to lead to a further pullback of the course.

Should not hold this support, also, there is currently a pullback to the Demand Zone at 3.60 to US Dollar probably. In case of breakage this brand is a Retest of the March highs of 2019 3.18 US dollars would even be possible. A price stabilization at the current level is unlikely. Accordingly, Short Positions worth more. First, a recapture of 5,66 US Dollar would be a positive Signal for the bulls.

The indicators as last week, still a lot of bids due soon image. The MACD indicator, as the RSI continues to be place down.

The RSI has not managed to exceed the threshold value of 45 again. Even if the RSI shows on a daily basis now first oversold conditions, index of the indicator on a weekly and month view, is still a strong negative lot of bids due soon Momentum. It is the bearish overall image prevails, therefore, if you look at the weakness of the RSI in the larger units of time. Reader, the the in the last week led to the outbreak scenario, traded down haben, can tighten the Stop Loss now gen 5.40 US dollars and, if applicable, the first part of the realized profits. The new target zones for the Take Profit Orders are now to pull in at 3.60 to the US Dollar and for the brave 3.18 US dollars.

the stability of the Top 10

Was the Situation at the beginning of the values week is still positive, fell back, the market capitalization of the Top Coins for the weekend with an average discount of ~ 20 percent. The rankings of the Top 10 Altcoins have changed this week only on a Position. Stellar (XLM) took it back over to Tron (TRX) place 10 work. This is due primarily to the very weak Performance of Tron. The main reason is the police investigation of the Headquarters of Tron at the beginning of the week.

winners and losers of the week

The negative development of the Top 100 Coins in the last week continued this week. The majority of the Altcoins must again cope with strong price reductions. The negative Situation at the ALT/BTC Charts is coming to a head further, the mentioned capitulation seems to be in full swing. Furthermore, most of the Altcoins look compared to the Bitcoin exchange rate is very weak. Only ten of the Top 100 Coins to record the end of the week above the previous week's course.

In a weak market environment, can convince once again this week, the Egretia Coin (EGT) with a price premium of about 50 percent. Egretia rise in the rankings and is now already in place 34.

Among the losers of the week this time, in addition to the weekly loser IOST Coin (IOST) at a discount of 41 percent, also Qtum and Zilliqa with -37 percent lead. The consistently negative price development of the Top 100 Altcoins in the week continues to point to a Underperformance of the Altcoins.

Bitcoin-dominance tests, the 70 percent

The Bitcoin-dominance has left the raised key mark of 65 percent-is now final and was able to continue to achieve strong growth. Currently, a further Increase of the BTC dominance is likely. Thus, the exponential moving moves as the target is now the end of the last 200 weeks average 69,59 percent in the focus.

in the expiry week is no exchange of Bitcoin into Altcoins is still detectable. Rather the opposite seems currently to be the case, perform the Altcoins are so weak as in weeks, not more. The profit-taking in the case of the Altcoins have increased once again. The negative development is in line with the scenario of an ongoing surrender. Currently, it is repealed as Altcoinfan still on the side line better. For the time being, it is important to have the price of Bitcoin as well as its dominance further, and to invest in sustainable Change again active in Altcoins.

Disclaimer: The information on this page is the illustrated rate estimates do not constitute buy or sell recommendations. They are merely an assessment of the analysts.

The chart images have been using trading view created. To be considered, the value pairs NBB/USDT on binance.com and EOS/USD bitfinex.com as well as the total market capitalization in accordance with Cryptocap

USD/EUR exchange rate at the time of writing: 0,89 Euro

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