2 8 1

Market Analysis of August 16, 2019

[vc_row][vc_column][vc_column_text]

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.

[/vc_column_text][vc_empty_space][vc_single_image image=”2625″ img_size=”full” alignment=”center” title=”Market sentiment”][vc_column_text]

HOW TO READ THE MARKET SENTIMENT ?

[/vc_column_text][vc_empty_space][vc_separator][vc_empty_space][vc_column_text]

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$

[/vc_column_text][vc_empty_space][vc_separator][vc_empty_space][vc_column_text]

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$

[/vc_column_text][vc_empty_space][vc_separator][vc_empty_space][vc_column_text]

Conclusion

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


You can join us on Telegram for a follow-up of the market throughout the day.

For any question, our team will be happy to answer you on our support which is open 7/7 days.

For any information about our subscriptions, please visit our website or contact @butler_4c_bot directly to get all the information you need.

See you tomorrow for a new market analysis!

[/vc_column_text][/vc_column][/vc_row]

Leave a Comment

Your email address will not be published. Required fields are marked *