The marketcap has been moving up (+0.02%) since yesterday. The total capitalization is 285.731.915.128 USD.
Bitcoin totals 163.147.620.834 USD of capitalization for a dominance of 57.10%.
Ethereum’s marketcap is 28.917.114.059 USD, followed by Ripple with 18.438.900.525 USD.
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Also there is something new I’d like to mention here, it is possible we see a similar structure to what we’ve had before.
I don’t see a red scenario so far as we haven’t done anything bearish yet, the only possibility I see is now that a ton of shorters got liquidated is that it’s probable the next turn for liquidation are the breakout longers.
Meaning we could see a wick down like we did to 6450, only this time to 7300 to test that level.
It’s possible and shouldn’t surprise anyone.
So far 8550 is crucial support!
9420 is also a pivotal resistance here as it’s printing a potential V top there in the future for a rejection.
Though BTC has done nothing bearish so far it remains to be seen what the reaction will be to 9420 on lower timeframes.
Meanwhile higher timeframes are pointing to resistance of 10k where we can safely assume we have a lot of stored up short liquidity.
- The supports of the day are at 9200$ – 8800$
- The resistances of the day are at 9450$ – 9700$
It seems that ETH is still evolving in its ascending channel and touched the support of this channel a few hours ago. We can therefore imagine that ETH will increase.
However, there are risks for the BTC to return to its $8,450 support within a few days, in which case, if ETH follows it, it could break the channel support and return to its $250 horizontal support.
- The supports of the day are at 262$ – 250$
- The resistances of the day are at 274$ – 280$
BTC is in a bullish trend with a risk of falling while
that ETH is in an upward channel. Our advice? If you want to enter a trade, think of playing with the breaks in the supports/resistors.
BTC: Wait for stabilization on the support around 8450 – 8500 $.
ETH: Wait for a support or resistance break and reassess.
Note: breaks must be accompanied by a high volume, otherwise it could indicate false breaks whose sole purpose is to trap traders!
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