Market Analysis of August 09, 2019

[vc_row][vc_column][vc_column_text]

Marketcap

The marketcap has been moving down (-0.60%) since yesterday. The total capitalization is 305.751.955.160 USD.

Bitcoin totals 211.680.018.306 USD of capitalization for a dominance of 69.20%.

Ethereum’s marketcap is 23.209.463.193 USD, followed by Ripple with 12.994.354.091 USD.

[/vc_column_text][vc_empty_space][vc_single_image image=”2555″ img_size=”full” alignment=”center” title=”Market sentiment”][vc_column_text]

HOW TO READ THE MARKET SENTIMENT ?

[/vc_column_text][vc_empty_space][vc_separator][vc_empty_space][vc_column_text]

Bitcoin

After a volatile session, Bitcoin finally closed the previous session slightly higher at $11,983. Be careful though, the last candlestick took the form of a hanging, which is usually a bearish sign.

 

The daily technical situation is starting to show signs of reversal on the WaveTrends and on the CCI.

On a 4-hour time horizon, the situation is rather negative, which confirms the risk of a decline.

What to do about it?

The Bitcoin evolves in a range, that’s why we recommend to wait for a support or a break of the resistance at 12200$ before positioning yourself.

  • The supports of the day are at 11475$ – 10986$
  • The resistances of the day are at 12000$ – 12200$

[/vc_column_text][vc_empty_space][vc_separator][vc_empty_space][vc_column_text]

Ethereum

The daily technical situation of the Ethereum is rather negative, with a WaveTrends and a CCI that have already given a sales signal.

On a 4-hour horizon, same observation, but we can nevertheless see that the CCI and the WaveTrends are evolving in their oversold zone, so a rebound is not impossible.

What to do about it?

Wait for a return on support or a resistance break before positioning yourself for purchase.

  • The supports of the day are at 205$ – 190$
  • The resistances of the day are at 235$ – 240$

[/vc_column_text][vc_empty_space][vc_separator][vc_empty_space][vc_column_text]

Conclusion

BTC and ETH are between support and resistance, it is better to wait for one or the other before positioning yourself. We advise you to wait for the return on support or a resistance break for BTC and ETH before positioning yourself.


You can join us on Telegram for a follow-up of the market throughout the day.

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

For any information about our subscriptions, please visit our website or contact @butler_4c_bot directly to get all the information you need.

See you tomorrow for a new market analysis!

[/vc_column_text][/vc_column][/vc_row]

Leave a Comment

Your email address will not be published. Required fields are marked *

Scroll to Top
%d bloggers like this: