Weekly review of the 10 major cryptocurrencies 8.01.18 - 14.01.In the second week of 2018, the main cryptocurrencies behaved differently.
Bitcoin completely lost the achievements of the previous week and its share in total capitalization has slightly decreased (to ~33%)
It seems that significant funds of investors' continues to flow into the grown Ethereum and NEO. Ripple isn't at it's best shape and got significantly cheaper.
The number of "billionaire-coins" decreased to 30, and their number (according to coinmarketcap.com) rose to 1438.
The total market capitalization of cryptocurrencies decreased to $ 700 billion
Bitcoin fell by 15% from $ 16,215 to $ 13,700, visting the $ 12,750 zone.
On the weekly chart, the rate again returned to the fast moving average, completely neglecting the rebound of last week.
On the daily chart, the indicator "Crossing moving averages" shows sale.
This technical picture so far confirms the reversal of the trend from growth to a decline.
Taking into account the fact that the technical picture has become much more bearish this week, it's possible for the support level to decrease and test the $ 13000, $ 12000 and, possibly, $ 11000 levels.
In the case of the support level decreasing, the estimated reduction target will be in the region of $ 6000- $ 8000
Recommendation: Close long positions. Aggressive traders can start the short game. However, keep in mind that even with a general scenario of a reversal of the growing trend, it is quite possible for BTC to re-test the maximum at $ 19,000
Ethereum for the week increased by another 20% from $ 1,116 to $ 1,350, reaching a new absolute maximum of $ 1424 and significantly reducing the capitalization gap from Bitcoin. Now ETH weighs $ 128 billion.
Closing near the maximums of the previous week, Ethereum confirmed the strength of buyers at current price levels. However, on the daily chart
a 5-wave structure of the wave is clearly visible and a reversal pattern is outlined
Therefore, we recommend closing long positions and placing buy-back orders around $ 700
Ripple (XRPUSD) for the week collapsed by 34%: from $ 2.75 to $ 1.81, reaching a minimum of $ 1.53
The vertex is found and correction has begun
Sell. Buy-back from $ 1.5, the reliable support level is on $ 0.90
BCHUSD didn't change much during the week - $ 2520, the minimum was at $ 2200, the maximum at $ 2950
Consolidation on a growing Trend
Buy. Stop under $ 2000
Litecoin fell by 13% during the week: from $ 271 to $ 235, the maximum being on $ 283, the minimum at $ 213
Consolidation continues and is nearing completion.
Buy. Stop at ~ $ 200
DASH decreased by 15% from $ 1157 to $ 989
Flat correction on a growing trend. Support levels are close.
Buy
NEM for the week fell by 27% from $ 1.8 to $ 1.31, visiting the $ 1.07 mark
Correction. Positive momentum persists
Keep. Buy for no more than $ 1.5
Monero went -2% for the week, from $ 400 to $ 392
today it is at + 10%
Growth continues
Buy
NEO soared by 66% from $ 101 to $ 167 reaching a new height at $ 178
Increased growth. While there are no signs of a reversal.
Buy
IOTA decreased by 9% from $ 4.08 to $ 3.71, visiting the $ 3.1 mark
Consolidation on a growing trend. Support level is close.
Buy
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