Cryptocurrencies made the most profit in February
We are leaving behind the second month of the year. Distinguishing in the global markets, cryptocurrencies have been the winners and winners of this month compared to gold and stock markets.
Leaving February behind, this month's winners were cryptocurrencies, while the losers were gold and stock markets. Bitcoin continues to struggle to stay above $23,000 and is priced at $23,375 today. Ethereum is also priced at $1,628 above an important support. Ethereum continues to outperform Bitcoin.
Cryptocurrencies have been rising with the new year
With the Durable Goods Orders (monthly) data coming from the USA yesterday, the rise in Bitcoin was not permanent, with the statement that Coinbase would stop trading in Binance USD (BUSD).
There are pullbacks at the 43.90 level of Bitcoin dominance. Ethereum dominance is on the rise at 19.4. Although there is no news flow that will affect the markets today, the news flows in the internal dynamics of cryptos will be important.
As of the day, a horizontal negative course is observed in futures indices. There are pullbacks at the total market cap of the cryptocurrency market at $1.02 trillion. TRU, DOCK, SNX and AGLD stand out as the highest risers of the day in Bitay.
Bitcoin Technical Analysis
Bitcoin broke the lower band of the channel yesterday and rose to $ 23,900 levels. Unable to provide permanence, it is priced at $ 23,375 in the morning today.
Bitcoin, which has not yet been included in the channel, is showing horizontal activity between two important levels for now. On the downside, the $23,275 level could be repeated as the first significant support. Breaking this level may bring a pullback to $23,100 and then to $22,720. In an upward movement, $23630 is the first important resistance level, and if this level is broken and persisted, $23,950, then the middle band of the channel, $24,450 can be met.
