Market Analysis of February 21, 2020

The marketcap has been moving up (+0.09) since yesterday. The total capitalization is 279 442 771 245 USD.

Bitcoin totals 175 870 318 906 USD of capitalization for a dominance of 63.00%. Ethereum’s marketcap is 28 374 886 136 USD, followed by Ripple with 11 891 971 095 USD.

Bitcoin Analysis

Bitcoin closed higher and is trading around $96777, still in an uncertain area.

The daily technical situation is negative but becomes more or less positive over a 4 hour time horizon.

What to do about it?

Be patient and wait for a return to support or resistance before positioning yourself.

  • The supports of the day are at 9500$ — 9300$
  • The resistances of the day are at 10000$ — 10500$

Ethereum Analysis

ETH closed lower than the BTC and is trading around $261.

The daily technical situation is negative but is becoming rather positive.

What can we do about it?

Like the BTC, ETH is in an uncertain zone and the prudent trader will prefer to wait for a return to support or resistance before positioning.

  • The supports of the day are at 250$ — 228$
  • The resistances of the day are at 288$ — 321$

Conclusion

The daily technical situation is negative for ETH and BTC.

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