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Global Stock Markets: New Cracks Revealed

Although a correlation between global stock markets varies over time, they can sometimes be viewed as a group to see what might be late or late. This relative performance can provide an indication of what might happen for particular markets or at least indicate the signs to watch for. In case of high correlated volatility, as we have seen recently, the signs can be particularly insightful.

Recently, each of the stock markets reached a record high at its highest point in history or at its highest level, then rebounded strongly. abruptly together. The question now for investors is this? Is volatility over or will we see more abrupt movements in the short term?

<img alt=" Stock "src =" https://cointelegraph.com/storage/uploads/view/6e69d98a873fdd9e94609c5cc1e1c1d0.png "title =" Stock "/>

Europe may be showing the way: the downtrend of the British FTSE 100 index continued to fall from 174.50 or 2.41% to 7,069.90, and the German DAX index, the weakest performer , which fell 570.10 or 4.57% to close at 11,913.70, but the performance is not that there is any more telling, but rather what is indicated by a review of price charts

Last week, each market fell below recent lows four weeks ago and closed below these weekly lows. This price behavior triggered signals of continuation of the downtrend.It signals not only further declines for these indices, but also bearish sentiment of investors represents it can expand to other markets. Markets in Japan and China l

Nikkei 225 Index: Drops with gaps

After the faint success of 20,940, 15 three weeks ago around the support of the long-term uptrend line, the Nikkei 225 rebounded as much as 7.4% from last week's high of 22,502.05, a 50% retracement of the downtrend. However, resistance was quickly perceived, and the more powerful bearish force launched again, leading the index down 711.14 or 3.25% to end at 21,181.64. The downside of the summit included two good-sized spreads, reflecting sellers' belief, and the week ended at a 20-week low, a bearish sign.

A dip below the 21 088.96 dip of last week's bearish decline, and a subsequent daily close below the recent low is needed to trigger the continuation of the ongoing downtrend. The Nikkei then moves to 20.318 if a continuation of downtrend is triggered.

<img alt=" NKY "src =" https://cointelegraph.com/storage/uploads/view/6e0111b1c5e7812e5a3e480bd8979b20.png "title =" NKY "/>

Shanghai Composite: The Rupture of ascending channel remains intact

The technical condition of the Shanghai Composite is the worst of the major stock indices as it has clearly broken down from a long-term upside After falling by 14.6% Compared to a record high of 3,587.03 in January, the index found support at 3,062.74 before rising 8.9% from last week's high of 3,335.99.

Nevertheless, if we go back and look at the developing model, we see a bearish break of a rising trend channel followed by a retracement towards a resistance zone around the bottom of the channel. price behavior for a bearish beard nd; breakthrough support followed by a retracement in this area of price to test it as resistance. A drop below last week's low of 3,228.59 points to further declines

<img alt=" TVC "src =" https://cointelegraph.com/storage/uploads/view/03c6ee5cff67f0375fad874ece989766 .png "title =" TVC "/>

Cryptocurrencies: Observation of Relative Strength

As mentioned last week, the main cryptocurrencies have been reinforced or consolidated in the last few weeks so relatively correlated, or a few can show the way for the group, and so we will closely observe the signs of strength and relative weakness.We can not only see the relative strength in the performance figures, but also in the 39, trend of the uptrend, a more reliable indicator of what might happen next, as a trend tends to continue for some time and, as it progresses, there is bullish signals that give the opportunity to participate in the advance.

<img alt=" Crypto "src =" https://cointelegraph.com/storage/uploads/view/f22902470239742cbe697e8d250393dd.png "title =" Crypto "/>

For the week, six of the eight currencies followed were positive with only two negatives, but less than 5% .This is an improvement over the previous week when they were all down for the week.

Monero is now the technical leader, and last week he also led the performance with a $ 64.57 or 23.2% lead to finish at $ 342.80. Monero is followed by Bitcoin, which was up 8.5% last week to close at $ 11,029.99 There will be more on Monero in the discussion below.

Bitcoin is trying to get out If this happens, there will be a new bullish signal for the crypto.A move above the highest of 11 780 signals, sign of a continuation of the uptrend that followed the low peak of 5 920.72 reached a month ago. Last week, Bitcoin was up $ 863.9 or 8.5% to close at $ 11,029.99.

IOTA had the second best performance last week, up 0.21 or 12.1% to finish at $ 1.92. He struggled to continue his climb after the peak of $ 2.21 reached three weeks ago and the subsequent decline. Over the past five days, he has pushed against the resistance zone around his long-term downtrend line. A break above the six-day high of 2.09 will signal a move above the line and will be an anticipated bullish signal that will require further confirmation as the price progresses higher, if it does so.

Monero: Leading the Upper Crypto Sector

Based on the price structure and rising uptrend, Monero leads the crypto sector. After the low of $ 150.00 reached four weeks ago, the XMR / USD pair climbed back up to $ 223.82 or 149.2% up from $ 373.82 on Saturday. Regardless of the rally, the background seems solid as it corresponded to the earlier resistance (now support) from October to September. 2017 peak and 78.6% Fibonacci retracement area.

<img alt=" XMR "src =" https://cointelegraph.com/storage/uploads/view/4e8fd4fea5d83816867fa04c3fe1dfe3.png "title =" XMR "/>

A tracking signal of the bullish trend was given at the end of last week while the cryptocurrency surpassed the $ 330.00 peak, reflecting the strength of the second phase of the bullish trend.the eight cryptos discussed, Monero is the first to release the first high swing that has occurred since last month. It is now in a good position to at least complete a measured move or ABCD model around $ 437.49, otherwise continue Combined with the high zone Swing resistance of $ 449.18 in January, a target area of ​​about $ 437.49 to $ 449.18 is generated

Dash: May be close to move again

] Dash is down $ 26.32 or 4.2% last week to end at $ 604.28, the second me weaker The eight cryptos followed for this column. Since the beginning of the year, the pair DASH / USD has fallen 40.1% from its record of $ 1,625 reached in December. Subsequently, the price fell to hold around the previous resistance, up from August last year, hitting a low of $ 376.05. From there, it rebounded to 99.3% from the peak of $ 749.41 reached three weeks ago.

For the past ten days, Dash has been consolidating in a relatively narrow range with a low (support) of $ 570.68 and a high (resistance) of $ 652. This range is sitting on the support of the long-term uptrend line. Therefore, the consolidation model is potentially of great importance that it could otherwise since the upward line represents the long-term uptrend.

<img alt=" DASH "src =" https://cointelegraph.com/storage/uploads/view/8eb436340633497a5b5281384eae98e0.png "title =" DASH "/>

One can s? expect the trend to continue until proven otherwise, a break-even break above $ 652 is not just a short-term consolidation range – it also means a successful test of support of the trend line and should lead to additional long-term continuation signals. Fibonacci retracement levels of the downtrend are added to the attached chart and may be considered potential short-term targets.]

On the downside, a break below $ 570.68 is bearish and represents the second time in a month that the uptrend line was broken.

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