Market analysis of July 15, 2019

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Marketcap

The marketcap has been moving down (- 7.66%) since yesterday. The total capitalization is 279.952.971.478 USD.

Bitcoin totals 184.228.295.756 USD of capitalization for a dominance of 65.8%.

Ethereum’s marketcap is 24.233.071.388 USD, followed by Ripple with 14.572.818.981 USD.

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HOW TO READ THE MARKET SENTIMENT ?

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Bitcoin

After moving closer to the $12,000 zone to $11,942, the BTC price dropped to the $10,285 level.

After a drop of more than 17%, the BTC could rise to test the resistance of the $11,000. Before that, the $10,700 zone remains an intermediate level of resistance. If the price fails to break these resistances with an increase in volume, the price could be rejected and reach lower levels.

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, play the $1100 break or a return on the lower supports ($9,700 – $9400).

  • The supports of the day are at 9700$ – 9400$
  • The resistances of the day are at 10700$ – 11000$

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Ethereum

ETH dropped and broke several of the supports to reach a low point at $202.55. Currently, ETH is at $223.90.
Like the BTC, the price could test higher areas again ($235 – $250), but it is only with an increase in volume that a break in these resistances would be confirmed.

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 real break in the $250 resistance or an analysis on the lower supports will be necessary to update the situation.

  • The supports of the day are at 220$ – 200$
  • The resistances of the day are at 235$ – 250$

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Conclusion

BTC and ETH are in a fairly similar situation. Both are on a downward trend. Without upward breakage accompanied by an increase in volume, the price could reach lower levels.

BTC: We advise you to wait for a break of $11,000 or a rebound on the bracket.
ETH: We advise you to wait for a $250 break or a rebound on the support.


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For any question, our team will be happy to answer you on our support which is open 7/7 days.

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See you tomorrow for a new market analysis!

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