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Market data information available from HitBTC exchange

Chinese stocks pioneered global stock markets last week with the Shanghai Composite Index up 89.86 or 2.81% to close at 3,289.02. Keep in mind that Chinese markets were closed until Thursday and this performance reflects only two trading days due to the Chinese New Year holidays. The regulators announced on Friday, Feb. 23, that they would take control of Anbang Insurance and that the index could still progress against the news, a sign of strength.

The remaining six markets tracked in the table below were mostly positive, but not encouraging, while the UK's FTSE 100 was the only negative market

Overall, stock markets continue their rallies against the trend following generally sharp declines at the beginning of the month

Japan's Nikkei 225 index was the second-best-performing market last week, up 172.53 or 0.79% to end at 3,289.02. On Friday, signs of inflation were reported, with the CPI rising 0.9% in January compared with the previous year. The third best result was the United States with the S & P 500 index gaining 15.08 or 0.55% to end the week at 21,892.78. Downward pressure has been seen for most of last week, with the S & P 500 trading sideways before vigor returns by Friday. The index closed strongly, at the high of the week and at a high of three weeks

Hang Seng Index: Three weeks of closure

The Hang Seng index s & S ' Is over at three weeks closing, which is a sign of strength, rose from 151.80 or 0.49% for the week to 31,267.20. Since the trough of 21,488.80 recorded in 2016, the index has progressed into a relatively well-formed parallel trend channel.

Two weeks ago, the bottom line of this chain was tested. moving average and 78.6% Fibonacci retracement, and it held, ending a two-week correction of 13.01%. At the peak of 31,477.90 last week, the index had rebounded 8.06% since that trough and traced at least 50% of the previous decline.

<img alt=" TVC "src =" https://cointelegraph.com/storage/ uploads / view / 3394778effa9b015c60f590c7a926135.png "title =" TVC ">

In the last five days, the Hang Seng is consolidated within a range.A movement across the points above a continuation of the rebound in the 61.8% Fibonacci retracement to 31,820.50, which would complete a gap bridging the decline to 31,712 This is followed by a price range of about 32,394.9 to 32,552.10, consisting respectively of the three-week retracement and the Fibonacci retracement of 78.6 %

BSE 30 Sensex Index: finally melting?

The ESB 30 Sensex index is technically lagging behind the others as it has barely moved from its recent swing bottom of 34 008.42 This decline was reached three weeks ago with the support of the lower parallel channel line, the moving average of 1 00 days, and the Fibonacci retracement of 78.6%. He finished a record low of 8.13% to 36,443.98 from two weeks ago. Last week, the Sensex was up 131.39 or 0.39% to end at 34,142.15.

<img alt=" NVY0 "src =" https://cointelegraph.com/storage/uploads/view/e1cd71ba418a123894eeac44146bc7d8.png "title =" NVY0 "/>

Nevertheless, the development of background in this index may be more reliable than what is shown in the other indices as a potential pattern of reversal of double bottom trend has formed.supported by last week's low of 33 554 , 37 and the index rebounded to close near the week's high .C is a short-term bullish behavior, and it occurs in a strong support zone given the confluence of the indicators noted in previous paragraph Double bottom breaking occurs on motion above 34535.

Cryptocurrencies: All weaken together

Major Cryptocurrencies were weak at all levels last week and clearly underperformed the markets bou Historically, it is interesting to note that some higher cryptocurrencies remain correlated to the direction. In other words, since they have gone from a record high to a corrective level, they generally move up and down, of course to different degrees, a little together

We will continue to observe evolving relationships in the coming weeks. signs of an advanced index and divergence. Further short-term weakness is unlikely to surprise in the coming week or two weeks, as cryptocurrencies continue to set a lasting bottom. Until now, recoveries have been V-shaped and are not as reliable as consolidation funds.

IOTA was the worst performer last week, down $ 0.39 or 18.4% to $ 1.71. Two weeks ago, the IOT / USD pair broke away from a bullish bearish bullish pattern, and last week, it folded back to the higher bearish trend line to test it. as a support. This process has not yet been completed because it remains a short-term downtrend (7 days). Therefore, cryptocurrency is expected to return once the withdrawal is complete

Ethereum displayed similar price behavior last week as it returned to its average support 100 days, at $ 791.04 from $ 787.0. This follows the break-up of an internal downtrend line two weeks ago. Last week, the ETH / USD pair was down $ 84.82 or 9.0% to end at $ 852.56

Bitcoin: Monitor Continuous Retracement Below Fibonacci Support Levels

Bitcoin was the best performer last week. only $ 29.90 or 0.30% to end at $ 10,166.10. Since it's bottomed out at $ 5,920 three weeks ago, the BTC / USD pair has climbed up to 98.96%, while the 50% drop from last week was $ 11,780. This rally included a breakout of an internal downtrend line.

<img alt=" BTC "src =" https://cointelegraph.com/storage/uploads/view/3787cdd7a735f363291c0524977e6340.png "title =" BTC "/>

From the top of Bitcoin last week, crypto-currency support climbed to $ 5,920 and may even exceed last week's high.Fibonacci's retracement is $ 8,158.96, and the 78.6% retracement is $ 7,174.61 Monitor the support to be seen at one or the other of these price sectors

Bitcoin Cash: It seems to be lower

Bitcoin Since the beginning of the year, he posted the third lowest performance with a decline of 47.8%, and last week he dropped $ 277.30 or 18.1% to finish at 1,255.60 line there are two weeks and rallied in resistance at $ 1,636.80 before sliding into a retrace, which is where it remains.At this high level, the BCH / USD pair was superior to of 118.24% at the bottom of the recent correction to $ 750.0. From the peak of $ 4,000 1 reached in December, the price fell by 81.25% at this level.

<img alt=" BCH "src =" https://cointelegraph.com/storage/uploads/view/398645cc75d84b4f386054b7c78bfcb6.png "title =" BCH "/>

Next Watch for a continuation from the decline in potential support to the 61.8% Fibonacci retracement from $ 1,088.80, followed by the 78.6% retracement to $ 939.80. Once the pullback is complete, cryptocurrency can be expected to recover. continued with the rest of the cryptocurrency sector.

Market data are provided by the exchange HitBTC are provided by TradingView.