Crypto Market Analysis

Weekly Crypto Update 29.06.2018 – The Red Spot

I was thinking there could be a quiet end of this week but the market wants a different thing, yesterday it started a new sell-off in all the charts. During last week, the prices of the main top ten cryptos were moving in narrow ranges and without definition after BTC touched a maximum of $6,319 on Monday 25th and a few hours ago, was very close to the annual minimums touching the $5,790.

General Overview

Market Cap: $234.606.528.197


24h Vol: $12.030.491.219

BTC Dominance: 43.1%

Overall market cap dropped from a weekly high of $ 261,218 Billion to a low today Friday of $ 232,631 Billion and Bitcoin’s dominance has gone up to 43.1% for the first time since April 12.

The important support for the BTC price of $6,000 was lost. The fear in the market is that most of the cryptos will follow the drop of the mother of coins and the result would be a disaster for all cryptocurrencies because we are facing a real possibility to see a minimum of the BTC close to $3,000.

Top Gainers of the week

  1. Selfkey       KEY   90.64%
  2. SPINDLE SPD   90.10%
  3. Paragon    PRG  43.27%
  4. FuturXe   FXE   40.00%

Top Losers of the week

  1. BigONE Token Big -52.59%
  2. PeepCoin PCN -44.25%
  3. CVCoin CVCOIN -31.48%
  4. BioCoin BIO -29.90%


There was no remarkable news that could have moved the market considerably. Here is a summary of the most important news items of the week.

The GBTC and Kimchi Premiums are Disappearing Again
Here in late June 2018, the GBTC premium and the South Korean “Kimchi” premium are quickly disappearing. This has historically been a bullish sign that has signalled the end stages of a bear market. It was very close to the last bottom that time; almost the literal bottom of the last cycle on April 9th, 2018

The Bank of International Settlements (BIS) Publishes Negative Report on Crypto
Click to read `The Bank of International Settlements (BIS) Publishes Negative Report on Crypto`
The Bank of International Settlements (BIS) published a mostly negative report on crypto called “Cryptocurrencies: looking beyond the hype.” The report criticises much of crypto while noting the potential importance of the underlying technology.

Crypto Search Trends are Trending up Again!
Crypto search trends are finally trending up again after a “search term correction” started in the winter as crypto prices started to drop. Although it is too early to say for sure, this is potentially a very bullish sign when considered alongside the price and volume data.

Bitcoin Poses Danger to U.S. Elections, Researcher Tells Congress
For a significant part of 2017 and even this year, social media platforms have taken a lot of heat over their alleged role in influencing the 2016 U.S. presidential election. And for a period of time on Tuesday during a congressional hearing, cryptocurrencies were put in the same spot — at least with regards to the future.

Bithumb Has Recovered Nearly Half of Funds Stolen in Last Week’s Hack
Cryptocurrency exchange Bithumb claims that it has recovered nearly half of the funds stolen in a recent high-profile hack at the South Korean trading platform.

South Korea Reveals New [Positive] Crypto Regulatory Guidelines
Financial Services Commission (FSC), the main financial agency of South Korea, has revealed a new crypto regulatory framework and guidelines pertaining to anti-money laundering (AML) and Know Your Customer (KYC) requirements for crypto exchanges.



BTC opened on Monday at $6,160 and touched a high at $6,319, but since then it has been falling slowly during the week, at this moment it is accumulating losses of -5.6% on the week. At the beginning of the trade session, the price reached the annual minimum at $5,838 and at this time it is negotiated at $5,880.

As we mentioned in our crypto analysis yesterday, the level to beat for the bears was $6000 this important support was crossed and if the bears continue to put pressure on the market, the result would be a complete red spot all around the charts with BTC looking for lower levels towards $3,000.

Market sentiment

4-H chart technicals signal a Bullish sentiment.

Oscillators are in oversold zone pointing up.

Pivot points
R3 6405.93
R2 6283.95
R1 6067.61
PP 5945.64
S1 5729.29
S2 5607.32
S3 5390.98


ETH has lost 9.32% Since opening on Monday and looses 28.5% in June. The bearish trend continues as the bears are putting lower minimums in the chart.

The price is trying to cross the Pivot S1 at $410 and received some difficulty there. It is now sitting around $411 and continues to move down into the bearish channel on this 4-H chart. A breakout of Pivot S1 will probably send the price to the Pivot S2, the important level of $400.

Market sentiment

ETH 4-H chart technicals signal a Strongly Bearish sentiment.

Oscillators are showing sell signals and pointing down.

Pivot points

R3 463.08
R2 453.26
R1 436.81
PP 427.00
S1 410.54
S2 400.73
S3 384.27


LTC has lost 8.88% Since Monday’s opening and made big loses of 88.4% in June. The price crossed down the triangle chart pattern in $76.47, exactly at the convergence point with the Central Pivot Point and is now sitting at $73.51, an important support to break. The downward trend of the market continues and there are no positive fundamentals that can turn it back, a red weekend is expected for the market.

Market sentiment

LTC 4H chart is showing strongly bearish.

Oscillators are on oversold zone and indicators neutral (Low volatility).

Pivot points

R3 86.1598
R2 83.7105
R1 78.9434
PP 76.4941
S1 71.7270
S2 69.2777
S3 64.5106


The market is making strong short movements that bring new lows in most of the cryptos. The question here is, will the market take a break and recover a little to go down again or this is a confirmed trip to $3.000 in BTC that will drag the others to the ground?


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