Market analysis of June 19, 2019

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Marketcap

The marketcap has been moving up (+1.47%) since yesterday. The total capitalization is 287.021.901.087 USD.

Bitcoin totals 162.804.670.008 USD of capitalization for a dominance of 56.70%.

Ethereum’s marketcap is 28.680.762.128 USD, followed by Ripple with 18.432.174.216 USD.

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Bitcoin

Bitcoin, after reaching a low of $8,918 yesterday, BTC closed at $9,078. BTC is still above the $9,000 level in an upward widening bevel configuration.

Although the technical indicators have still not given any sales signals, the technical situation is rather negative. On a 4-hour horizon, however, the technical situation remains negative, but there are signs of upward curves on the WaveTrends and the CCI.

What to do about it?

If you are in position, place your stop-loss above your purchase price. If you are not yet in position, wait for a break of the $9350 or a return to the $9000 support before reassessing the situation.

  • The supports of the day are at 9200$ – 8800$
  • The resistances of the day are at 9350$ – 9700$

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Ethereum

ETH closed the previous session at $264.5 before rebounding this morning. The Ethereum is currently around $270 with a fairly neutral daily technical situation, with no sales signals but with signs of downward curvature.

On a shorter horizon, in 4 hours, WaveTrends and CCI have already given a buying signal.

What to do about it?

If you are in a position, place your stop-loss above your purchase price and take a portion of your profits. If you are not yet in position, wait until the $274 break before positioning yourself for the purchase.

 

  • The supports of the day are at 262$ – 250$
  • The resistances of the day are at 274$ – 280$

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Conclusion

Bitcoin and Ethereum are under significant resistance
BTC: wait for the 9350 $ to be returned on support or broken before positioning
ETH: wait for a $274 break before buying

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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See you tomorrow for a new market analysis!

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