Daily Crypto Analysis - 28th Jan - Technical Analysis

Bitcoin

Bitstamp:BTCUSD 1h
(Bitstamp:BTCUSD 1h)

Bitcoin made another leg up, this time briefly pushing through the $11910 resistance. This could be the start of a new bull run for Bitcoin if this trend holds. There is no sign of divergence on the RSI nor the MACD, suggesting no weakness yet.
I would suggest keeping an eye on the $12146 and $13052 resistance levels and watch out for signs of weakness, but otherwise this looks bullish.

Ethereum

Bitstamp:ETHUSD 4h
(Bitstamp:ETHUSD 4h)

We've seen a good break upwards here for Ethereum. Currently it sits under the 23.6% resistance but has seen no sharp pullbacks, which is a strong sign for this move. However, volume still remains low on this breakout rather than the expected spike for the start of a new trend.
This could cause issues around the resistance levels as we retest highs, so I would suggest keeping an eye out for sharp rejections of resistance and other signs of weakness.

Bitstamp:ETHBTC 30m
(Bitstamp:ETHBTC 30m)

On the shorter time frame, ETHBTC has made a very healthy push of 12% after its secondary consolidation zone. So far there has been a small pull back to the 23.6% support followed by an unsuccessful second test of highs with strong bearish divergence. Historically a 38.2% - 50% pullback is the expected retrace for a movement, so I would be surprised if the next leg starts without consolidating a tad lower first.
A good 50% retracement would make a very attractive place to be opening positions here, as ETHBTC still has a lot of room to grow in the medium term.

Bitcoin Cash

Poloniex:BCHBTC 4h(Poloniex:BCHBTC 4h)

Bitcoin Cash looks like it might've finally found a bottom around 0.1420. I would still wait for further confirmation before entering any positions, with a break of at least the 61.8% resistance level.
A failed retest of the 0.1420 support would also make a good reversal signal for a longs, but a break even lower is very possible too, so wait for the confirmation.

NEO

Bitfinex:NEOBTC 1h
(Bitfinex:NEOBTC 1h)

Neo remains within its consolidation around the 23.6% retracement. This is a similar situation to the larger ETHBTC consolidation, which held steady within a tight range after its pullback. It's hard to predict how long this pattern will hold for, but unless we see a strong drop below the 0.01207 support level, this zone looks like a pretty good level for longs.

Cardano

Bittrex:ADABTC 4h
(Bittrex:ADABTC 4h)

Similarly, ADA is holding within its consolidation between the 50% and 61.8% retracements. A retest of highs seems likely in the next few weeks, so a long looks like a good proposition. With the 4730 support making a good level for a hard stop loss, this setup gives a strong profit/loss ratio.

Disclaimer

I will do my best to give unbiased, objective analysis, but I can make no promises about my accuracy.
All posts are based on my personal opinions and ideas and do not constitute professional financial investment advice.

Sort:  

lil tip - center your titles ;)

Coins mentioned in post:

CoinPrice (USD)📈 24h📈 7d
ADACardano0.648$-0.16%6.7%
BTCBitcoin11498.800$-0.27%-1.12%
ETHEthereum1209.220$7.77%14.58%
NEONEO156.443$10.58%18.81%

Great analysis. This will help lots of traders who are hodling the following coins. Good thing that at this bear market season, Cryptocurrencies.Ai will be launching its free beta platform. With the platform, you can do technical charting, market research, manage your portfolio from one platform.

Interested users who wants to try can signup now on the website to reserve their spot on the free beta launch. https://cryptocurrencies.ai
Also, join the telegram group. https://t.me/CryptocurrenciesAi