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Market Analysis of October 16, 2019

The marketcap has been moving down (-1.86%) since yesterday. The total capitalization is 221 828 638 305 USD.

Bitcoin totals 147 151 252 058 USD of capitalization for a dominance of 66.30%. Ethereum’s marketcap is 19 472 341 749 USD, followed by Ripple with 12 443 616 329 USD.

Market Sentiment

Market Analysis of October 16, 2019 - 4C Trading


Bitcoin Analysis

The Bitcoin finally headed south and reached a low of $8076. Currently it is evolving at a price of $8118.

Market Analysis of October 16, 2019 - 4C Trading

The daily technical situation is rather negative. Although the indicators are in an over-sold zone, they seem to be showing signs of falling.

Over a horizon of 4 hours, the technical situation is more positiveDespite the fact that the indicators are down, they show possibilities of bullish crossing.

What to do about it?

The BTC is currently at an uncertain level. It is not advisable to take a position at this time. In case of a break in the $8000 level, we could see the price return to the 7800$ – 7700$ area.

  • The supports of the day are at 8000$ — 7800$
  • The resistances of the day are at 8300$ — 8500$

Ethereum Analysis

Market Analysis of October 16, 2019 - 4C Trading

The same is true for ETH, prices are just above their zone of liquidity, which is holding up for the time being. Technical indicators remain bearish on a daily horizon.

On a 4-hour horizon, the technical situation is positive, a monthly open test at $172 is therefore possible.

What to do about it?

ETH is rather bearish for the moment. It is possible to see the price come to test the resistance again before falling to higher levels such as $160 or even $150.

  • The supports of the day are at 170$ — 165$
  • The resistances of the day are at 181$ — 188$


BTC et ETH sont assez instables pour le moment, si vous êtes un trader prudent, vous devriez vous intéresser aux autres coins ou être patients.

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