Monthly Premium Technical Analysis Cryptocurrency Market And Bitcoin Review

Monthly Premium Technical Analysis Cryptocurrency Market And Bitcoin Review

By Rubikav® | Rubikav | 1 Feb 2020


This monthly market review will have the objective for you understanding all the positive points that the cryptocurrency market and Bitcoin had during the month of January. In addition to the earnings, it is important to recognize that the market studies that we are doing, they represent the basis for making decisions for the next few days.

1*B82nJW3Un3dDtwbwMFHbFg.png

In general, the month of January was a good start for everyone in the market. We know that many people made good profits, learned new things and especially improved many past strategies. By our part, mainly that was what happened. In addition to obtaining good results, (so far), we improve many strategies, gain more followers and develop many unknown theories, too.

Bullish Engulfing That Everyone wanted

The month of January closes with positive events for Bitcoin. The first of these, and after the massive entry of capital and exaggerated purchases by the CME, it is the fact of having a confirmation of the bullish engulfing pattern.

Because of that, we still dare not send our next signal to generate profits. We decide better to wait a little longer, wait for at least the breaking of the resistance of USD $10k.

0*VHQB111BuJOZql-L.png

The second fact is the question of bullish engulfing candle having broken the EMA9 and EMA21 with force, and starting to open a new candle with a positive signal for February. However, we must remember that the market always has its surprises and we cannot use a single theory.

And as a third fact, it is to have broken with force one of the main lines of downward trend, above 61% of the Fibonacci retraction line and almost reaching the 50% line of the Fibonacci retraction; where there is a strong resistance targeted by the ichimoku cloud at the most accurate point of USD $10,300.

0*lJqzLjKaNacL-8Zk.png

On the other hand, we can’t ignore the fact that the strongest supports are: EMA21, at the approximate point of USD $7236; USD $6321; and EMA50, at the exact point of USD $5500.

The strongest resistance is found in the interception with one of Gann’s angles and 38% of the Fibonacci retraction line at the exact point of USD $12,050 where it will be the next target of the whales.

0*6irOnb19Rwl62wW9.png

All of the above, and to remember, we will be executed within a shock wave of Elliot number 5. For this reason, many professional traders maintain a positive feeling for this year in relation to the previous years and after the last bullrun.

Market With A Bullish Feeling

In relation to the market in general, the month of January closes with approximately USD $253 billion with respect to the total capitalization. 

1*tOVhu3RCyM7-kPJy41DJ2Q.png

Bitcoin with a dominance of approximately 67% of the market, and in relation to other assets, it is expected that the high demand for capital inflows is emerging, the trend is that dominance and interest in investing in cryptocurrencies other than Bitcoin could grow.

1*YrJfLDH-XMGCrDKiWQtj4A.png

On the feeling side, we are beginning to break through the barriers of remaining in the neutral zone and reaching the area that everyone likes. It begins to breathe a really bullish feeling for the end of last month with a smell of earnings for the next.

Make Your Dreams

From our own experience, we have understood that the first step to realize our dreams is to take initiative, make good decisions and, above all, be within the correct work team.

1*6hHhPYGT-_zOAQOH3vri1Q.jpeg

Therefore, take risks today to fulfill all your dreams by being part of the best team of traders within our premium group. If you want to take part today, ask us on telegram for our 50% bonus on all current plans.

See you in the next story! With love 💛 Rubika Ventures Team!

Do you really love this article? please don’t forget to like us, tip or clap and leave us your comment to continue producing more content like this.

Join in our telegram channel to get Bitmex, Bybit, Derebit, and Binance trading signals with Cornix and all market insights for free, let’s go now https://t.me/rubikaventures.

Follow us on Twitter, TradingView, Coinigy, Youtube, Facebook, Uptrennd, Medium, Publish0x, & Instagram.

Remember, investment in cryptocurrencies or other assets has a moderate risk, so it is important to have a detailed study of the possible scenarios before placing your money at risk.


Rubikav®
Rubikav®

Be A Smart, Study, Create A Perfect Strategy, Execute And Take Profit


Rubikav
Rubikav

Oficial Blog For: 🎙Bitcoin Tracking 📈 News, Reports, Strategy & Stats In Highlight 🔔 Smart Trade Binance, ByBit And Bitmex With Cornix Auto Trading Boot 💹 High quality guaranteed profits. Official Telegram Channel 👉🏻 https://t.me/rubikaventures.

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.