Daily Crypto Analysis - 28th Jan - Technical Analysis

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·@matthew-analysis·
0.000 HBD
Daily Crypto Analysis - 28th Jan - Technical Analysis
# Bitcoin
![Bitstamp:BTCUSD 1h](https://steemitimages.com/DQmegQZaWA7KZPESoo5317QowgiCBYTFCiJ7NCM9ixQTbbr)
(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](https://steemitimages.com/DQmaD91nUkkXKBK5ojPDKRycg3AR7GedSoca8ogyeZzmhUH)
(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](https://steemitimages.com/DQmXy8wn9Le9qbCwner9dxJvJ915NdLrJdadjWqDbgpAReo)
(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](https://steemitimages.com/DQmPn4LyZiSAjrkmna1D4ygNQ8EABoQAKvYwn2DcUcTWzwq)(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](https://steemitimages.com/DQmafBxVoBW37FyvfbCAyWk2qBD6n2dCgE4cmyrMFrmCAJ8)
(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](https://steemitimages.com/DQmUuiC2CMp9bnVx1FddhnBQDYB6G3xgQuanq1EyhNVfzEs)
(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.**
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