Market Analysis of February 19, 2020

The marketcap has been moving up (+3.33%) since yesterday. The total capitalization is 295 735 115 274 USD.

Bitcoin totals 184 527 927 951 USD of capitalization for a dominance of 62.40%. Ethereum’s marketcap is 30 759 480 716 USD, followed by Ripple with 12 901 728 394 USD.

Market Sentiment

HOW TO READ THE MARKET SENTIMENT ?

Bitcoin Analysis

Bitcoin closed higher, passing above its Weekly Open, trading around $10,140.

The daily technical situation is negative but is still positive over a 4 hour time horizon.

What to do about it?

Indecision is still present in the market, but the BTC seems to be holding above 10,000. A test of the Weekly Open could interest us as to the direction to take to position ourselves.

  • The supports of the day are at 10000$ — 9650$
  • The resistances of the day are at 10500$ — 11000$

Ethereum Analysis

ETH also closed higher despite a daily technical situation and is trading around $280.

The daily technical situation is rather negative with a visible bearish divergence on the ITC. On a short time horizon the situation is positive but the WaveTrends is close to a bearish cross.

What to do?

ETH is still very volatile and the market is still uncertain. A test of supports and resistances is therefore necessary before positioning.

  • The supports of the day are at 260$ — 240$
  • The resistances of the day are at 288$ — 321$

Conclusion

The daily technical situation is negative for ETH and BTC and the market is uncertain.

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.


Butler Bot


VIP Plans


Dashboard

Subscribe to our newsletter and receive 10 Free Crypto Tutorials over 10 weeks!

Your personal data will be used to support your experience throughout this website, to manage access to your account, and for other purposes described in our privacy policy.