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Market Analysis of August 16, 2019

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Marketcap

The marketcap has been moving down (-1.58%) since yesterday. The total capitalization is 259.641.513.890 USD.

Bitcoin totals 177.574.360.004 USD of capitalization for a dominance of 68.40%.

Ethereum’s marketcap is 19.574.197.788 USD, followed by Ripple with 11.134.694.460 USD.

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HOW TO READ THE MARKET SENTIMENT ?

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Bitcoin

Bitcoin is currently evolving around its monthly opening level with a daily technical situation that remains negative.

Over a 4-hour time horizon, the indicators crossed upward but show signs of downward curves, so a continuation of the decline is not impossible.

What to do about it?

If you are in position, place your stop-loss above your purchase price. If you are not yet in position, we advise you to wait for a return on support at $9500 or a confirmed break in the monthly opening level.

  • The supports of the day are at 9750$ – 9500$
  • The resistances of the day are at 10500$ – 10700$

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Ethereum

Like BTC, Ethereum is falling, with a negative daily technical situation. The indicators are evolving in their oversold zone and could therefore turn around in future sessions.
Over a 4-hour horizon, the indicators crossed upward but, as for the BTC, they show signs of downward curves.

What to do about it?

We recommend waiting for a return on support or a resistance break if you are not yet in position.

  • The supports of the day are at 170$ – 150$
  • The resistances of the day are at 205$ – 235$

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Conclusion

We advise you to wait for the return on support or a resistance break for BTC and ETH before positioning yourself.


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See you tomorrow for a new market analysis!

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