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Developed equity markets generally continued to outperform most cryptocurrencies last week, as they have done since the beginning of the year. Hong Kong is the main stock market of the past week and year to date, the Hang Seng index rising 2.8% for the week to 32,255 and up 10.8% since the beginning of the year. In second place, the S & P 500, up 2.2% for the week and 7.5% since the beginning of the year, and the Shanghai Composite, which rose 2.0% to week and 7.6% since the beginning of the year. The Hang Seng suffered a tear, rising seven weeks in a row and ending at a new record for the second week in a row. Meanwhile, the S & P 500 continues its ascent to a new record and closes strong at the height of the week, while the BSE 30 Sensex does the same. The Sensex has completed its eighth week in a row.

<img alt=" PIC "src =" https://cointelegraph.com/storage/uploads/view/1d9741cb522f853e80e99e23e8de0575.png "title =" PIC "/>

The index FTSE 100 of the United Kingdom, down 0.8% to close at 7.731, is closely followed by the German DAX index and the Japanese Nikkei 225 index, down 0.7% 13.434 and 23,808, respectively.

It is interesting to note that last week's stock market order is similar to the relative performance since the beginning of the year, which seems to be a good reminder of the importance of trends Once a trend has begun, it tends to continue for a certain period of time and the relative position of the markets tends to hold for some time.

Look at a few tables that may have something to tell us, we will leave the Hang Seng, S & P 500, and Sensex only because i They are in clear, strong rises in record highs.

Nikkei 225 Index

First of all, we look at the Nikkei 225 index, which can be better observed with the weekly chart. In recent weeks, the index has been stuck around the 150% extension, 150% retracement, of the previous downtrend that started from the peak of 2015, and the channel line of higher parallel tendency. Last week, he again tried to continue his rally with a new record of 24,129.34. The attempt was quickly reversed with a near-down close for the week. This is the third consecutive week that the Nikkei has finished in the red and reflects the construction of sales pressure. Also note that two weeks ago, there was a bearish doji candle, not perfect but close enough. In addition, the Stochastic Dynamics Oscillator dropped after being overbought during most of the rally after the lows of the month of August.

A break below the three-week low of 23.577.07 increases the odds of selling. below confirming a bearish signal.

<img alt=" NKY "src =" https://cointelegraph.com/storage/uploads/view/5fa7552a7992d7c51ed566746aea041a.png "title =" NKY "/>

FTSE 100

This chart is a daily chart for the FTSE 100. The FTSE found resistance at 7992.60 two weeks ago and has since receded, following a break-out of a six-month base period that took the form of a bullish ascending triangle consolidation scheme When markets break resistance at one point, they retire to test for past resistance as a support, at least to some extent. […]

<img alt=" UKX "src =" https://cointelegraph.com/storage/uploads/view Note that an earlier resistance at the top of the triangle at 7,599 is almost an exact match to the Fibonacci retracement 38.2 percent of the last ascent, and the stochastic has been This makes the 38.2% Fibonacci price support area a good starting point for looking for potential entries, relative to your own strategy. Whatever the case may be, the overall behavior of this index is bullish and the uptrend should continue after the retracement.

Cryptocurrencies

The table below shows the weekly and monthly relative performance of some of the most popular cryptos. What immediately stands out is the relative outperformance of Ethereum (ETH).

Ethereum

Ethereum is the only crypto with a positive performance for the past week and year so far, and so has done by a long shot. ETH since the beginning of the year is up 42.1% and 1.4% last week. Nevertheless, the cryptocurrency market remains globally in a consolidation phase with lower volatility and therefore less predictable price profiles.

<img alt=" Crypto "src =" https://cointelegraph.com/storage/uploads/view/c8778753be8aeb0b706cca86602f4674 .png "style =" opacity: 0.9; "title =" Crypto "/>

What happened was that the ETH was lagging behind other cryptocurrences and so they overcame and started to On the other hand, the cryptocurrency retreated, found support and quickly recovered, and maintained its recovery. […] The other cryptos continue to face a

A sign of strength should help maintain or improve the bullish sentiment on the crypto-market, while signs of weakness could trigger declines below support. [59008]

Here's a four-hour chart for Ethereum (ETH / USD):

<img alt=" ETH "src =" https://cointelegraph.com/storage/uploads/view/58170813d05bc4d9eda6bc927b07ef4b. Png "title =" ETH "/>

ETH formed a measured movement growing potential following a retracement of more than 45" ur cent of the peak at 1424.30 on January 13th. The advance of this weak resistance found around the 61.8% Fibonacci retracement and the subsequent decline also found support at the 61.8% level. This sets the stage for a potential Gartley completion around the 1.295.21 price range at the earliest. The potential resistance zone coincides with two other levels of Fibonacci resistance, as shown in the chart above

Nevertheless, a break above the previous 1,160 increases an uptrend, which may trigger a bullish enthusiasm,

Several of the other cryptocurrencies formed symmetrical triangular patterns on their four-hour charts, including BTC / USD, DASH / USD, and IOTA / USD. A breakout of triangle consolidation patterns will point to the next direction of momentum.

Ripple

Now let's take a look at Ripple (XRP / USD). Ripple is the lowest since the beginning of the year, down 38.5%, and 21.4% for the week. Since it peaked at 3.34 on January 4th, Ripple dropped 74% before finding support at 0.85. This low completed a 78.6% Fibonacci retracement of the bullish trend in the near term, followed by a 61.8% retracement of the internal downtrend.

What is interesting in his chart is the relationship between prices and bearish lines. There are some clear trend lines that define the dynamic resistance of the downtrend. A decisive break above the line will provide a bullish signal with a confirmed force on a move above the minor breakout of 1.457, then again on a rally above the highest swing at 1.722. Fibonacci price levels are listed as potential short-term targets.

<img alt=" XPR "src =" https://cointelegraph.com/storage/uploads/view/81f7adb7509f005f1f6ddaa475e9b7c3.png "title =" XPR "/>

] Diagrams for the analysis of cryptocurrency are provided by TradingView.