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Weekly trading signals for major cryptos - JANUARY 21TH

Posted In: Forex Trading   Posted On: 2019/01/22 06:39 AM    Posted By: ituglobal

Bitcoin (BTC), Ethereum (ETH), Monero (XMR), Ripple (XRP), Cardano (ADA), Stellar (XLM), EOS, Bitcoin SV (BCHSV), Tron (TRX), Litecoin (LTC)




Dominant trend: Ranging

Supply zone: $6000, $7000, $8000
Demand zone: $2000, $1500, $1000


BTC/USD continues in a range-bound market in the long-term outlook. The bears had a momentary hold of the range as BTC/USD made a low of $3570 while the bulls took the cryptocurrency initially to a high of $3799 and later to $3882 as the week ended on19th January.


Momentum to the downside remains strong. With the price below the 10-EMA and the stochastic oscillator in the oversold region and its signal pointing down at 14 %. The new trading week started on a bearish note with BTC/USD opened at $3762. The lower demand area of the range may be tested as the bearish momentum increase.


BTC/USD is in consolidation and trading between $4370 in the upper supply area and at $3470 in the lower demand area of the range. A breakout at the upper supply area or breakdown at the lower area may occur hence patience is required to allow this to happen before a position is taken.





Dominant trend: Bearish

Supply zones: $250, $300, $350
Demand zones: $50, $30, $10


The head and shoulder pattern is the cryptocurrency structure in the long-term outlook. The bulls attempt continue the journey up north at $134.50 in the supply area was rejected by the 10-EMA on 14th January.


The formation of a bearish railroad on 15th January was an indication of the bears taken over of the market. Increased momentum led to a drop in ETH/USD to $107.51 in the demand area.


The price is below the EMAs crossover and the stochastic oscillator is in the oversold region at 16% an indication of downward momentum in price as the right leg of pattern forms in the week ahead.



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