Market Analysis of February 18th, 2020
The marketcap has been moving up (+1.47) since yesterday. The total capitalization is 286 200 548 425 USD.
Bitcoin totals 178 007 210 270 USD of capitalization for a dominance of 62.30%. Ethereum’s marketcap is 29 354 200 600 USD, followed by Ripple with 12 699 627 440 USD.
Market Sentiment
Bitcoin Analysis
Bitcoin closed lower, trading around $9700 between its Weekly Open and Monthly Oppen. It seems to be struggling to break below $9650.
The daily technical situation is negative but becomes positive over a 4 hour time horizon. Indecision is still present on the market today!
What to do about it?
As long as indecision reigns in the market we must wait for a return to support or resistance before positioning ourselves.
- The supports of the day are at 9650$ — 9300$
- The resistances of the day are at 10000$ — 10500$
Ethereum Analysis
ETH closed higher than the BTC and is trading around $262. Volatility is high at the moment.
The daily technical situation is negative but the MACD has not yet crossed lower. The situation becomes positive over a 4-hour time horizon.
What to do?
Indecision is also present in the ETH market and caution and a return to support or resistance is therefore advised.
- The supports of the day are at 240$ — 228$
- The resistances of the day are at 273$ — 288$
Conclusion
The daily technical situation is negative for ETH and BTC but positive on a shorter time horizon
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