Market Analysis of February 16th

The marketcap has been Moving up (9.74%) since yesterday. The total capitalization is 1 503 997 295 540 USD.

Bitcoin totals 913 091 182 176 USD of capitalization for a dominance of 60.9%. Ethereum’s marketcap is 205 972 487 159 USD, followed by Tether with 32 248 044 176 USD.

Market Sentiment

Latest Crypto Fear & Greed Index

Bitcoin Analysis

The BTC closed higher, trading around $49000.

The daily technical situation is rather neutral and remains rather neutral in 4 hours.

What to do about it?

 The best thing to do is to wait for a better entry point. On retracement, most likely around $40000

  • The supports of the day are at 40000$ — 45000$
  • The resistance of the day is at 50000$

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Ethereum Analysis

This is the same story for ETH, trading around $1790 at the time of writting these lines.

The daily technical situation is rather negative and remains negative in 4 hours.

What to do about it?

 

The best thing to do is to wait for a better entry point.

  • The supports of the day are at 1650$ — 1700$
  • The resistance of the day is at 1800$

Conclusion

We have to wait for a better entry point for ETH and BTC.


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