Market Analysis of July 31, 2019

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Marketcap

The marketcap has been moving up (+2.68%) since yesterday. The total capitalization is 269 666 339 165 USD.

Bitcoin totals 174 199 065 302 USD of capitalization for a dominance of 64.60%.

Ethereum’s marketcap is 22 825 587 346 USD, followed by Ripple with 13 691 350 664 USD.

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HOW TO READ THE MARKET SENTIMENT ?

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Bitcoin

The Bitcoin closed the previous session above its weekly closing level, which is a good bullish signal. In addition, the daily technical situation is now positive with a purchase signal given on the CCI and WaveTrends.

 

On a 4-hour horizon, the technical situation is also positive.

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 return to the support or a resistance break before positioning yourself.

  • The supports of the day are at 9400$ – 9100$
  • The resistances of the day are at 10000$ – 10200$

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Ethereum

The Ethereum is still evolving in its triangle with a positive daily technical situation. On a 4-hour horizon, the indicators are also positive, which makes it likely that this triangle will break from above.

What to do about it?

Wait for the triangle to break before positioning yourself if you are not yet in position. Otherwise, protect your profits with a stop-loss above your purchase price.

  • The supports of the day are at 205$ – 190$
  • The resistances of the day are at 220$ – 235$

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Conclusion

BTC above his weekly open and ETH still in his triangle.

What to do about it?

We recommend to wait for a resistance break or a return on support in the case of BTC and a triangle break for ETH.


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See you tomorrow for a new market analysis!

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