Bitcoin breaks below the $38,000 support

Indicators

With the bearish action over the last few days, the Bitcoin market remains bearish and continues its descent towards the oversold region (RSI below 30), as indicated by the relative strength index below the 50 mark. On the 19th of February, the bullish action resulted in a rise of the RSI to 44.17. With the sustained but bearish dominance on the 20th and 21st of February, we see a consecutive fall in the relative strength index to 38.77 and 36.41, reflecting the bear’s grasp on the market. In correlation with other indicators, the MACD has fallen below the zero line, indicating a negative outcome for the asset, while the histogram shows growing bearish intensity in the market.

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Ethereum / US Dollar

As with the Bitcoin market, the Ethereum market remains below its 50-day moving average of $2,970 per coin; however, the chart also shows consecutive bearish action over the last few days, pulling the ETH price well below its moving average, maintaining the asset in a downtrend.
On the 19th of February, the bears gained control of a heavily contested market after successfully flipping an initial bullish momentum as indicated by the wick above the candle, which denotes the highest trading price of ETH for the day at $2,833 per coin. With the heavily contested bearish start to the market, the bears influenced a 0.56% drop in the ETH price, bringing the price of each coin to $2,764. The chart also illustrates the bullish rejection of further bearish action. They attempted to minimize the losses seen on the day, indicated by the wick below the candle and placing the lowest price of Ethereum for the day at $2,696 per coin.
At the start of the 20th of February, we see the bears continuing their previous momentum. We see increased selling volumes from the above chart, resulting in a bearish dominance of the market at its start with a little bullish resistance; with the bearish move for the day, the Ethereum price is down by 5.14%, bringing its price to $2,622. Nevertheless, the highest and lowest Bitcoin trading price for the day stands at $2,765 and $2,575, respectively.
On the 21st of February, we see the bears continuing their previous momentum. We see increased selling volumes from the above chart, resulting in a bearish dominance of the market at its start with a little bullish resistance; with the bearish move for the day, the Ethereum price is down by 0.71%, bringing its price to $2,603. Nevertheless, the highest and lowest Bitcoin trading price for the day stands at $2,760 and $2,582, respectively.
Over the last three days, it is evident that the bears are in control of the market as they have successfully maintained the ETH market below its 50-day moving average.

Indicators

Over the last few days, the bearish action has successfully maintained the ETH market in bearish dominance as its relative strength index trades below the 50 mark. On the 19th of February, the bearish action resulted in a fall of the RSI to 42.83. With the sustained bearish start to the 20th and 21st of February, we see the relative strength index fall to 38.63 and 38.19, respectively, maintaining bearish market control.
With the sustained bearish action over the last few days, the histogram and MACD have fallen below the zero line, indicating bearish dominance of the market and a negative outlook for the asset.

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Ripple / US Dollar

From the above chart, we see the Ripple market remains above its 50-day moving average of $0.740 despite significant bearish action seen in the market, indicating bullish dominance in the market.
On the 19th of February, the bulls initiated a massive bullish move to continue the bullish action of the previous day, resulting in a 4.62% growth in the Ripple price, translating to $0.820 per coin. The bears provided resistance to the further price growth as indicated by the wick above the candle, which also denotes the highest Ripple trading price for the day at $0.854 per coin, while the lowest trading price of Ripple for the day stood at $0.770 per coin.
At the start of the 20th of February, the bears gained a headstart to dominate the market as a response to the previous bullish momentum, resulting in a 5.50% drop in the Ripple price, translating to $0.775 per coin with the highest and lowest trading prices achieved stand at $0.823 and $0.757, respectively.
At the start of the 21st of February, we see the bears continue their momentum of the previous day, intending to bring the market below its 50-day moving average. The Ripple market is down by 1.29%, translating to $0.765 per coin with this move. However, with the market still in its early hours, we could see more volatility. Nevertheless, as at the writing of this analysis, the highest and lowest price points achieved stand at $0.801 and $0.757, respectively.

Indicators

Due to the heavy price action over the last few days, the bullish relative strength index shows a decline. The current momentum remains in firm control of the bulls, and the relative strength index on the 19th, 20th, and 21st of February stand at 56, 51, and 50, respectively. Consecutively showing reducing bullish activity, reflecting the increasing bearish action in the market.
The MACD and histogram illustrate growing bearish entry into the market in correlation to the RSI. The MACD makes a descent to the zero line, reflecting the bearish action seen in the action; however, the market maintains its positive outlook with the MACD above the zero line.

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Litecoin / US Dollar

The above chart shows that the Litecoin market is steady in bearish control as it remains below its 50-day moving average of $125 per coin.
On the 19th of February, the gains seen in the Litecoin market were significantly contested by the bears, resulting in a minute gain of 0.64%, bringing the LTC price to $115 per coin. With the continued struggle for market dominance, we see the highest and lowest price points achieved for the day at $117 and $113, respectively.
On the 20th of February, the bulls established a minute move to gain an early start in the market; however, bearish resistance sees the bulls lose control of the market in favor of the bears who influenced a 4.24% drop, bringing the LTC price to $110 per coin. At the start of the 21st of February, we see the bears carry on their momentum after flipping an initial bullish start to the market and influencing a 1.80% drop in the LTC price, translating to $108 per coin, while the highest and lowest price points seen in the market stand at $114 and $107, respectively. With much time left to the close of the market for the day, these values are subject to change due to volatility.

Indicators

The relative strength index indicates a market in bearish control with its relative strength index value below the 50 mark. On February 19th, 20th, and 21st, the relative strength index shows an increasing bearish activity in the market, corresponding to 42, 39, and 37, indicating increasing bearish activity.
In correlation to the RSI, we see increasing bearish activity in the MACD and histogram, reflecting bearish dominance over the market and, with these indicators below the zero line, a bearish outlook for the asset.

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Bitcoin Cash / US Dollar

As with several other crypto assets over the last three days, the Bitcoin Cash market remains in bearish control as it trades below its 50-day moving average of $337 per coin.
On the 19th of February, the bulls initiated a momentum following consecutive bearish action over the previous days after flipping of an initial bearish start to the market, resulting in a 0.55% increment in the Bitcoin Cash price, translating to $312 per coin, with the highest trading price of $316 per coin, while the lowest trading price for the day as indicated by the wick below the candle stands at $305 per coin.
Following the bullish dominance of the previous day, the bears initiated a momentum on the 20th of February, resulting in a 2.94% drop in the Bitcoin Cash price, translating to $302 per coin, with the highest and lowest price points seen in the market at $312 and $296, respectively.

At the start of the market on the 21st of February, the bears have an early start after toppling an initial bullish action as indicated by the wick above the candle, influencing a 0.29% decrease in the Bitcoin Cash price as at writing this piece, translating to $301 per coin. With the market yet to close for the day, we likely will see more volatility; however, Bitcoin Cash's highest and lowest trading prices stand at $310 and $291, respectively.

Indicators

The Bitcoin Cash market remains bearish as its relative strength index over the last few days remains below the 50 mark. We see the relative strength index on the 19th, 20th, and 21st of February stand at 43, 40.39, and 40.10. The bearish outlook for the asset is correlated by the histogram and MACD, with the MACD below the zero line.

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Cardano / US Dollar

On the 19th of February, the bulls gained control of a heavily contested market, resulting in an ADA increase of 0.11%, bringing the ADA price to $0.996 per coin. The highest and lowest price points achieved stood at $1.019 and $0.973.
Following the dominance of the bulls on the previous day, the bears initiated a move on the 20th, resulting in a drop of 6.52%, bringing the ADA price to $0.931 per coin. The highest and lowest price points achieved stood at $0.998 and $0.919, respectively.
We see the bulls attempting to revive the ADA market on the 21st of February, resulting in a 1.32% growth as this piece's writing, bringing the ADA price to $0.944 per coin. With the market still far from its close, we will likely see more volatility. Nevertheless, the current highest and lowest price points seen in the market stand at $0.992 and $0.897, respectively.
With the bearish action over the last few days, the ADA market falls farther away from its 50-day moving average, portraying a bearish outlook.

Indicators

With the volatile price action over the last few days, we see the ADA relative strength index below the 50 mark, indicating a growing bearish effect on the market. With the above, the RSI on the 19th, 20th, and 21st of February stands at 39, 34, and 36.
In correlation to the RSI, we see the MACD deflect further away from the zero line, which places the bears as the dominant force in the market.

Swap to ADA

Dogecoin / US Dollar

On the 19th of February, the bulls attempted to continue their momentum seen over the previous day; however, bearish resistance to further price growth sees restricted gains on this day to 1.73%, bringing the Dogecoin price to $0.141 per coin, while the highest and lowest price points achieved stood at $0.146 and $0.138, respectively.

On the 20th, the bears initiated a massive momentum, resulting in a drop of 2.98%, bringing the Dogecoin price to $0.136 per coin, while the highest and lowest price points achieved stood at $0.141 and $0.135, respectively.
We see the bulls restarting their momentum on the 21st of February, resulting in a 0.80% rise at this piece's writing, bringing the Dogecoin price to $0.137 per coin. With the market still far from its close, we will likely see more volatility. Nevertheless, the current highest and lowest price points seen in the market stand at $0.141 and $0.133, respectively.

With the bearish action over the last few days dominating the bullish action, the Dogecoin market falls farther away from its 50-day moving average, portraying a bearish outlook for the market.

Indicators

With the price action over the last few days, we see the Doge relative strength index stand below the 50 mark, indicating a growing bearish effect on the market. With the above, the RSI on the 19th, 20th, and 21st of February stands at 43, 40, and 41.
In correlation to the RSI, we see the MACD deflect away from the zero line, which places the bears as the dominant force in the market.

Swap to DOGE

Correlations

• Bitcoin / Ethereum = 0.93
• Bitcoin / Ripple = 0.81
• Bitcoin / Litecoin = 0.90
• Bitcoin / Bitcoin cash = 0.89
• Bitcoin / Cardano = 0.90
• Bitcoin / Dogecoin = 0.84

Keynotes for today

• Bitcoin at $37,551 per coin.
• Ethereum at $2,603 per coin.
• Ripple at $0.765 per coin.
• Litecoin at $108 per coin.
• Bitcoin Cash at $301 per coin.
• Cardano at $0.944 per coin.
• Dogecoin at $0.137 per coin.