At the start of the 16th of February, we see a bearish start to the market as a response to the bullish action of the previous day. From the above chart, we see increased selling volumes, resulting in a bearish dominance of the market at its start; however, with significant bullish resistance, the loss seen on this day is so far limited to 0.67%, bringing the Bitcoin price to $44,285 per coin. With this move, the bears lead the market, but we could see a shift in the market momentum with so much time left. Nevertheless, as at the writing of this piece, the highest and lowest Bitcoin trading price for the day stands at $44,585 and $43,677, respectively.
Over the last two days, it is evident that the Bitcoin bulls maintain control of the market, as the market is maintained above its 50-day moving average of $41,726.
Indicators
Despite the bearish action on the 16th, the Bitcoin market remains bullish, as indicated by the relative strength index above the 50 mark. On the 15th of February, the bullish action resulted in a rise of the RSI to 62.58. With the sustained but contested bearish start to the 16th of February, we see the relative strength index fall to 61, reflecting the bears struggling to gain control of the market.
The histogram remains bullish; however, we see reduced bullish activity on the 16th of February. In correlation with other indicators, the MACD places above the zero line, indicating a positive outcome for the asset.
Buy and sell BTC on Remitano
Ethereum / US Dollar
As with the Bitcoin market, we see the Ethereum market experience massive bullish action on the 15th of February, resulting in the market rising above its 50-day moving average of $3,069, placing the market in bullish favor. With the bullish move on this day, the bulls influenced an 8.71% rise, placing the ETH price at $3,186 per coin in a move that suggests the bulls gained control following a successful takeover from the bears as indicated by the wick below the candle, denoting the highest and lowest trading price point for the day at $3,199 and $2,911, respectively.
Following the bullish action of the previous day, we see the bears initiating a pushback on the 16th of February in an attempt to get the market back below its 50-day average. The ETH price is down 1.38% with this move, translating to $3,142 per coin. With the market still far from its close, we expect to see more activity, subjecting values seen during the day to change. Nevertheless, as at the writing of this piece, the highest and lowest ETH trading prices for the day stand at $3,187 and $3,105, respectively.
Indicators
With the bullish action on the 15th of February, the relative strength index shows a rise to 58.12, reflecting increased buying action on the day. With the bears attempting to crash the market on the 16th of February, we see the relative strength index stop its ascent, standing at 56.20. Despite the bearish action, the ETH market remains bullish, as indicated by the values over the last two days standing above the 50 mark.
In correlation to the relative strength index, the histogram and MACD remains bullish as they stand above the zero line while reflecting the recent bullish action over the last two days, maintaining the positive outlook for the asset.
Buy and sell ETH on Remitano
Ripple / US Dollar
The above chart shows that the Ripple market has experienced bullish action on the 15th, as with several other assets. On the 15th of February, the bulls initiated a move following consecutive bearish action over the previous. The Ripple market rose by 5.97%, bringing the XRP value to $0.849 per coin with their momentum. The wick below the candle indicates bullish rejection of bearish downward action in the market, placing the lowest XRP trading price for the day at $0.796 per coin, while the highest trading price for the day stands at $0.860 per coin.
We see the bears reestablish their effort in bringing the Ripple market below its 50-day moving average by influencing a 2.37% drop in the XRP price at the start of the 16th of February, bringing the XRP price to $0.829 per coin. The wick below the candle suggests bullish rejection to further price fall, and with the market far from its close for the day, we could see more action, which might see the bears lose their grasp on the market. Nevertheless, as at the writing of this piece, the highest lowest XRP trading prices achieved so far stand at $0.851 and $0.823, respectively.
Despite the bearish action seen on the 16th, the Ripple market remains bullish as it trades well above its 50-day moving average.
Indicators
With the bearish action on the 16th, the Ripple relative strength index is down to 59.38. However, the Ripple market remains bullish despite this bearish action, as indicated by the relative strength index above the 50 mark. On the 15th of February, the bullish action resulted in a rise of the RSI to 62.29. The histogram remains bullish; however, we see reduced bullish activity on the 15th and 16th of February. In correlation with other indicators, the MACD places above the zero line, indicating a positive outcome for the asset.
Buy and sell XRP on Remitano
Litecoin / US Dollar
The above chart shows that the Litecoin market has made a slight break above its 50-day moving average of $129. On the 15th of February, the bulls initiated a response to previous bearish action, resulting in a momentum that successfully took the LTC market back above its 50-day moving average. The LTC market rose by 5.71%, bringing the LTC value to $131 per coin with their momentum. The wick below the candle indicates the lowest LTC trading price for the day at $124 per coin, while the highest trading price for the day stands at $132 per coin.
We see the bears reestablishing their effort in bringing the LTC market below its 50-day moving average of $129 per coin by influencing a 0.93% drop in the LTC price at the start of the 16th of February, bringing the LTC price to $130 per coin. The wick below the candle suggests bullish rejection to further price fall to a level below the market’s 50-day moving average, and with the market far from its close for the day, we could see more action, which might see the bears lose their grasp on the market. Nevertheless, as at the writing of this piece, the bulls are fighting to keep the market above its 50-day moving average, placing the highest lowest LTC trading prices achieved so far at $131 and $127, respectively.
Indicators
Due to the bullish action in the Litecoin market on the 16th, we see the relative strength index of Litecoin rise but fall due to the bearish action of the next day. However, the Litecoin market remains bullish despite this bearish action, as indicated by the relative strength index above the 50 mark. On the 15th of February, the bullish action resulted in a rise of the RSI to 54.61. With the sustained but contested bearish start to the 16th of February, we see the relative strength index fall to 53.55, reflecting the bears struggling to gain market control.
The histogram remains bullish; however, we see reduced bullish activity on the 16th and strong bullish action on the 15th of February. In correlation with other indicators, the MACD places slightly above the zero line, indicating a positive outcome for the asset.
Buy and Sell LTC on Remitano
Bitcoin Cash / US Dollar
As with most of the crypto market, the Bitcoin Cash market has experienced bullish activity on the 15th, aiding the market's progress toward its 50-day moving average of $350.
On the 15th of February, the bulls initiated a momentum resulting in a 3.94% increase in the Bitcoin Cash price to $343 per coin as indicated by the formation of a green candle for the respective day, the highest trading price of BCH of the day stands at $345 per coin. The wick below the candle indicates the lowest price of Bitcoin Cash for the day at $329 per coin.
At the start of the 16th of February, we see the bears initiating a response to the previous bullish action of the 15th. However, with bullish resistance, the loss seen on this day is so far limited to 1.03%, bringing the Bitcoin Cash price to $340 per coin. With this move, the bears lead the market, but we could see a shift in the market momentum with so much time left. Nevertheless, as at the writing of this piece, the highest and lowest Bitcoin Cash trading price for the day stands at $343 and $332, respectively.
Indicators
On the 15th of February, the bullish action resulted in a rise of the relative strength index to 54. With the bearish start to the 16th of February, we see the relative strength index fall to 51, reflecting the bears struggling to gain market control.
Despite the price action over the last two days, the Bitcoin Cash market remains bullish, as indicated by the relative strength index above the 50 mark.
The histogram remains bullish; however, we see increased bullish activity on the 15th and reduced bullish activity on the 16th of February. In correlation with other indicators, the MACD places above the zero line, indicating a positive outcome for the asset.
Buy and sell BCH on Remitano
Cardano / US Dollar
The ADA market remains below its 50-day moving average of $1.189 per coin, suggesting a market yet to break out of its downtrend. On the 15th of February, the bulls initiated a momentum, resulting in a 5.59% increase, bringing the ADA price to $1.108 per coin, while the highest trading price of ADA stood at $1.116 per coin. We see the bears initiating a move after rejecting an initial bullish momentum following the previous bullish day. With the market still hours from its close for the day, the market is likely to be more volatile; however, as at the writing of this piece, the ADA market is down by 1.24%, translating to a price of $1.095 per coin.
Indicators
With the ADA bulls unable to establish a full momentum, the relative strength index over the last two days trades just below the 50 mark, at 47.84 on the 15th of February, and 46.67 on the 16th of February, indicating the bears have a slight hold on the momentum.
The MACD and histogram portray a market within bullish control but of reduced intensity due to the bearish action seen over the last few days.
Swap to ADA
Dogecoin / US Dollar
The Dogecoin market remains below its 50-day moving average of $0.154 per coin, suggesting a market yet to break out of its downtrend. The bulls initiated momentum on the 15th of February, resulting in a 4.12% increase, bringing the DOGE price to $1.151 per coin. We see the bears initiating a move after rejecting an initial bullish momentum following the previous bullish day. With the market still hours from its close for the day, the market is likely to be more volatile; however, as at the writing of this piece, the Dogecoin market is down by 1.52%, translating to a price of $0.149 per coin.
Indicators
On the 15th of February, the bullish action took the Dogecoin relative strength index up to 50.80, placing the bears at a slight advantage in the market momentum for the day. With the bearish start on the 16th of February, we see the relative strength index at 49.05, indicating an increase in the selling pressure against buying pressure seen in the market.
The MACD falls slightly below the zero line, indicating a slight bearish dominance. However, the histogram shows that the bulls have the momentum, but the bearish action seen previously has significantly diminished the bullish effect.
Swap to DOGE
Correlations
- Bitcoin / Ethereum = 0.89
- Bitcoin / Ripple = 0.80
- Bitcoin / Litecoin = 0.83
- Bitcoin / Bitcoin cash = 0.78
- Bitcoin / Cardano = 0.81
- Bitcoin / Dogecoin = 0.87
Keynotes for today
- Bitcoin at $44,285 per coin.
- Ethereum at $3,142 per coin.
- Ripple at $0.829 per coin.
- Litecoin at $130 per coin.
- Bitcoin Cash at $340 per coin.
- Cardano at $1.095 per coin.
- Dogecoin at $0.149 per coin.
