Market Analysis of the Previous Week and Forecast for December 31 — January 6 Velvet Follow Jan 9, 2019 · 2 min read

BTC / USD

At the beginning of the new year on January 6, at (UTC + 3) 19:00 BTC showed an impulsive upward movement to the level of $ 4080. This bullish bar did not break the $ 4,100 mark, so the move is more like an unjustified jump in the period of high volatility. Throughout the week, the market was in a compressed price range from $ 4,080 to $ 3,940.

The estimated maximum value at the beginning of the new year is the breaking of the resistance level R: 4100 and the price reaching above the value of $ 4500.

However, at the moment the trend is still downward, despite a sharp jump.

According to technical analysis, the price emerged from a prolonged consolidation, overcoming the resistance level of the 3,900 impulse candle and forming the bullish flag continuation pattern. The immediate goal of the upward movement is the level of 4250, overcoming of which will open the way to 4500.

ETH / USD

Last week, ethereum reached its maximum values ​​and showed a price of $ 158 through impulsive bull movements. Formed a confident upward trend. Installed support levels for this week:

R1: $ 146

R2: $ 150

R3: $ 158

XRP / USD

Last week, XRP traded in the range of $ 0.34 — $ 0.37 and was in flat. We recommend expecting the following market movements. Estimated resistance level for the current week is $ 0.37500, during its breakdown it is possible to generate a buy signal in the middle term.