Market analysis of May 16, 2019

Market analysis of May 16, 2019


Marketcap


The marketcap has been moving up (+4.66%) since yesterday. The total capitalization is 255.789.212.314 USD.

Bitcoin totals 142.768.770.416 USD of capitalization for a dominance of 58%.

Ethereum's marketcap is 28.093.073.555 USD, followed by Ripple with 18.909.747.377 USD.


Market sentiment


How to read the Market Sentiment ?





Bitcoin


The Bitcoin still evolves around $8,000 with indecision. As we said yesterday, the $8,500 zone is a significant resistance and its breakage will therefore have a significant impact, with $10,000 in the line of sight.



What is the current situation?


  • However, the technical situation remains quite in favor of a correction. The WaveTrends has now crossed downward and the CCI is dangerously close to the 100 level, and on a 4-hour horizon, the technical indicators are also heading downward.


What to do about it?


  • If you are still in position, take some of your profits and place a stop above your purchase price for the rest of the position. If you are not yet in position, we advise you to wait for a return on the support at $7,500 or a confirmed break of $8,500.


The supports of the day are at 7500$ - 7200$

The resistances of the day are at 8500$ - 9800$




Ethereum



ETH continues to break its resistance one by one and is currently trading at around $260. The next resistance is $270 and if this level is broken, the $300 area will be the next target.


The daily technical situation is also favorable to a correction and we will prefer to wait for a return on support before positioning.


What to do about it?


If you are still in position and since we are under resistance, we advise you to take some of your profits. If you are not yet in position, we recommend that you wait for a return on the 245$ support or a 270$ break before positioning yourself.



The supports of the day are at 245$ - 220$

The resistances of the day are at 270$ - 300$


Conclusion


BTC: If you are already in position, take part of your profit and keep the rest with a stop above your purchase price. If you are not yet in position, however, be patient. Indeed, 2 solutions are available to you, a return on the support at 7500$ or a break of 8500$.


ETH: If you were in position yesterday, take some of your profits and place your stop-loss above your purchase price. If you are not in position, wait for a return to the stand at $245 or a break in the $270 resistance.


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 @CryptoAddictsButlerBot directly to get all the information you need.


See you tomorrow for a new market analysis!

© 2019 Crypto-Addicts. All rights reserved.

Solfin Consulting SPRL - BE 0711.667.521
Rue de l'ancienne Gare, 2B. 1380 Lasne

RESOURCES

ABOUT

CONNECT

  • Noir Icône Instagram
  • Noir LinkedIn Icône
  • 1_F6SrJR7_s95r6oCF3ugMZw copieblack
  • 9d6878ac8b copie black
  • Noir Facebook Icône
  • Noir Twitter Icon
  • Noir Icône YouTube