Last week was dominated by strong contributions across a broad Front. All of the Top 10 crypto-currencies suffer part of bitter declines. The Binance Coin is as in the previous week also the strongest loser with a discount of almost twenty percent. Only Bitcoin SV and Ripple to create it with a price decline of only five percent, a similar relapse level as the anchor currency for the Bitcoin to show for it.From Stefan Lübeck
At the 2. September 2019BTC$9.829,79 2.75%part Facebook Twitter LinkedIn xing mail
the market capitalisation of The crypto market is not managed at the beginning of the week, to overcome the resistance at 268 billion dollars. In the result, the capitalization fell to the current level of 239 billion dollars. This means on a weekly view, a decline of 6.5 percent.
All the Top 10 Coins have to cope with this week, the majority of strong price declines. Five out of ten Top Cryptocurrencies have a discount of more than ten percentage points. In addition to the once again weak Binance Coin also Litecoin, Tron, and Stellar course have to accept break-ins. Only the weekly winners of Bitcoin, SV coincides with a good 4.5 percent lower than the overall market.
views of the market capitalization
total market capitalization on the Basis of values of Cryptocap shown
The bearish chart signals from the last few weeks to show effect and the market capitalization of the crypto-market will come back. It is a positive development that the support area at 230 billion U.S. keeps the Dollar continue to. Currently, the price is 239 billion dollars, but within the support area between 230 and 240 billion US dollars.
Thus it can at best be a breather, talked to the sellers currently have the upper hand. The volatility has increased this week again. Whether this is the Start of a new bear rally will be decided at break of the support zone on a daily basis, and the price brands back 223 billion US dollars, and including the area around 180 billion US-Dollar in focus.
The weakness of Bitcoin also attracts the altcoin market with down, 95 of the 100 highest capitalized crypto-currencies have a Minus on the week view. Sustained rises in the prices of the Altcoins are still unlikely.
Best price development: Bitcoin SV (BSV)
rate analysis on the Basis of the value pair BSV/USDT on Bittrex
The Bitcoin-SV-price claims of the Top 10 crypto-currencies with this week's best of the best. With a relatively modest price decline of less than five percent of the rates currently 128,12 US Dollar can hold on to in the course of the weekend above the exponential moving average of the last 200 days.
Since the failed sustainable breakout above the downtrend line and falling back below the support zone at 142 US dollars a bear of a trend channel is currently in. As long as the will not leave training at the end of the channel to the top of the 135-US-Dollar-mark is not back Robert, outweigh the downside risks.
Only a break of the trend channel to the top of a Retest of the old support area would allow for between 141 and 147 USD. The Bitcoin-SV breaks-the course is, however, by the week's low at US $ 119, a start-up of the July lows at 106,19 US Dollar and the 23-Fibonacci-Retracements at 98,95 US dollars probably. The overall market is also more, also does not exclude a retest of the area around 83 US dollars.
The RSI and the MACD-indicator in the daily chart of sale have at the moment signals. The RSI produces higher lows, but with a value of 40 continue to impulslos sideways. The MACD is on a daily basis, has also generated this week, a sell-signal. Right down dynamics is, however, different, which is why the MACD can also be assessed rather than directionless. Also on a weekly basis, both indicators have a bearish tone. Since the Chart of Bitcoin, SV has only been existing for almost 10 months, I give these values, not of great importance. The data basis is still too thin.
Worst course development: Binance Coin (BNB)
rate analysis on the Basis of the value pair NBB/USDT on Binance
The Binance-Coin price falls to a new 20-week Low at 21, 22 of the US Dollar. The break of the uptrend line in the past week unfolds his power, and break through the exponential moving average of the last 200 days, which acted as support. Thus, the Binance Coin is changed by the text book definition back in the bear market. The break of the support area at 24,60 US Dollar resulted in a weakness in the overall market for a pullback in the direction of the old support in the area of 20,80 dollars.
What we currently see, is to chart a "Sliding along the Bands" in the day, the price runs along with the lower Bollinger Band down. The overall market should also come this week back, expect a Test of the support area between 19,90 dollars and 17.67 US dollars. There is also the 61 Fibonacci Retracement of the entire upward movement passes. In particular, the already in the previous week mentioned 18,34 US Dollar, the Low from may 2019, is to give an increased attention.
Both indicators, the RSI and the MACD on the daily chart remain bearish signals. The RSI shows tendencies with a value of 25 getting Oversold, however, generates only a fraction of the 45 to the top of a first buy-signal. On a weekly perspective, the RSI is the fraction of the generated 45 down a new sell signal. Thus, acute, there are still downside risks. In addition, in the past week, trained sales solidifies now in the MACD signal in the weekly chart. The MACD has on the week view, there is still lots of space to the bottom of what the bullish course fantasies, but very limiting.
stability of the Top 10
The Top 10 Coins will not manage to stabilize, and reported all major course corrections. Since then, Bitcoin has to give up for the week in the middle of the area in order to 9,850 dollars, and in Deep 9.320 US Dollar corrected, followed by the Top Altcoin currencies this bearish development, and lost much of its value. Since the crypto-currency EOS was able to this week more than the week close light Binance Coin against the downward trend claim, creates EOS the jump to sixth place, and swaps places with the in-house currency of the Binance exchange.
winners and losers of the week
The market environment in which the altcoin market has deteriorated this week much. Only nine crypto-currencies are on a weekly basis, a course plus. Among the winners in the Stable Coins with Tether, TrueUSD, USD Coin, DAI and Paxos Standard, however, primary among the crypto-currencies. The week's winner, with a price premium of 3.5 percent Golem is. More than half of the Top 100 crypto-currencies fall more than ten percent. The loser of the week, Algorand, falls on the week view to 31 percent. V. system and the Cryptocurrency BEAM lose more than 25 percent of their value. The 90 out of 100 crypto-currencies have this week's price reductions, is still in doubt as to the sustainable development of prices of crypto currencies advent.
total market capitalization exclusive Bitcoin on the Basis of values of Cryptocap, as well as on the Basis of the value pair is BTC/USD on Coinbase
The Chart of the Altcoin shown-total market vs. Bitcoin can not continue the slight recovery in the previous week and falls back again. Not keep support brand new Test would mean this again stormy times for the Altcoin-crypto-currencies. Before the sliding is initiated at the end of the average of the last 200 weeks after the above, outweigh the downside risks. The hoped-for ground, education, each track is missing so far.
A look at the Bitcoin-dominance
trading view has made to the beginning of the week, a Change in the composition of the Top 100 Coins. In consequence, the percentages moved a little have. The Charter provider has informed on it on demand, that he is working on a function, the observed historical data. Currently, the capacity on the part of trading view is a lack of this implement. The Bitcoin domination rise this week, once again, to 72 percent and is currently trading at 71,75 per cent.
in the last edition mentioned bull flag was left to the top, making a renewed start-up of the year highs at 72,58 percent likely. In case of breakage of the annual highs, the dominance of Bitcoins could make the Supply-brand from the year 2017 at 75,32 per cent increase. The support of brands has changed, however, nothing. Only a fraction of the 69 percent on a daily basis to below could trigger a bearish trend reversal in favor of the Altcoins. A fraction of 65 percent would mark a first exclamation mark in the direction of an altcoin strength.
Bitcoin-dominance on the Basis of values of Cryptocap
shown looked While last week after a slight stabilization at the Altcoin market, has set again this week, the overall bearish trend. In particular, the lack of liquidity in the trade of most crypto-currencies currently makes it difficult for more than short-term rises in the prices of individual crypto-currencies is to be expected. Investors who want to in the medium term to invest, you should wait at least a stabilisation of the Situation. Only in the case of a sustainable reversal, supported by buy signals in the larger units of time, are Investments interesting. The mentioned observer role of the crypto market as a whole still makes sense, the value of the private crypto-Depots, meanwhile, is a top priority.
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.
USD/EUR exchange rate at the time of writing: € 0.91.
Attention: The crypto-compass is the first digital magazine for digital currencies and Blockchain Assets. He provides you with monthly exclusive assessments, Insights and comprehensive analysis of the current situation on the Blockchain- & crypto-markets. Only now and only for as long as the stock enough: In the Abo incl. FREE Bitman-T-Shirt