Market analysis of July 1, 2019

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Marketcap

The marketcap has been moving up (+0.30%) since yesterday. The total capitalization is 321.210.138.721 USD.

Bitcoin totals 197.631.229.738 USD of capitalization for a dominance of 61.4%.

Ethereum’s marketcap is 31.755.758.674 USD, followed by Ripple with 17.465.234.465 USD.

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HOW TO READ THE MARKET SENTIMENT ?

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Bitcoin

This weekend, we saw some big movements on the BTC. After reaching the low point at the $11,300 level, the BTC rose to a high point at the $12,447 level. After this top, the BTC dropped to a low point at a price of $10606.

Since May 12, an important line is the BTC, which represents a high level of support and resistance. We can see that this line was once again tested when it fell to around $10606. As long as this oblique support is maintained, we can still see the BTC reach high points.

What to do about it?

If you are in position, place your stop-loss above your purchase price. If you are not in position yet, wait for a $11700 breakage. If the price starts to fall, we advise you to wait for the price reaction to lower supports ($10,400 – $9400 – $8800)

  • The supports of the day are at 10400$ – 9400$
  • The resistances of the day are at 11700$ – 12400$

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Ethereum

ETH remains strongly correlated to BTC. So like the BTC, ETH has returned to a low point at the $285 level.

Currently, ETH is at $298 under the resistance of $300.

A confirmation of a breach of the $300 level would be a bullish sign for ETH.

  • The supports of the day are at 280$ – 262$
  • The resistances of the day are at 300$ – 320$

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Conclusion

BTC: Bitcoin has bounced off its oblique support. We recommend that you wait for a return to the support or a break in the $11,700 resistance.

ETH: Ethereum is under his $300 resistance. We advise you to wait for a return on the support or a breakage of the $300 resistance.


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See you tomorrow for a new market analysis!

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