Market analysis of July 2, 2019

days analysis 020719 1

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Marketcap

The marketcap has been moving down (-9.04%) since yesterday. The total capitalization is 292.147.068.512 USD.

Bitcoin totals 175.757.525.682 USD of capitalization for a dominance of 60.10%.

Ethereum’s marketcap is 29.568.745.104 USD, followed by Ripple with 16.630.199.656 USD.

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HOW TO READ THE MARKET SENTIMENT ?

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Bitcoin

After reaching a high of around $14,000 a few days ago, Bitcoin has since corrected by almost 30% and is now around $9850.

  • The daily technical situation is negative with a MACD, CCI and WaveTrends that have already given a sales signal.
  • On a shorter horizon, in 4 hours, the indicators are in their oversold territory and it is therefore not impossible that we may see a short-term rebound.

What to do about it?

f you are still in position despite the decline, take your profits. If you are not yet in position, wait for a return on the 9350$ support before positioning yourself.

  • The supports of the day are at 9350$ – 8800$
  • The resistances of the day are at 10000$ – 11000$

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Ethereum

  • The Ethereum tends to evolve in a correlated way with the BTC and has therefore decreased in recent days.
  • The daily technical situation is negative as on the BTC. On a shorter horizon, in 4 hours, the technical indicators are getting closer to their oversold zone, so we could see a short-term rebound, as for the BTC.

What to do about it?

If you are still in position, take your profits, otherwise wait until you get back on the $280 support before reassessing the situation.

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

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Conclusion

Bitcoin and Ethereum are located above important supports. We advise you to wait for a return on these supports before positioning yourself for purchase.


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See you tomorrow for a new market analysis!

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