Market Analysis of August 12, 2019

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Marketcap

The marketcap has been moving up (+0.20%) since yesterday. The total capitalization is 296.375.383.225 USD.

Bitcoin totals 203.168.633.280 USD of capitalization for a dominance of 68.60%.

Ethereum’s marketcap is 22.846.099.959 USD, followed by Ripple with 12.881.879.994 USD.

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HOW TO READ THE MARKET SENTIMENT ?

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Bitcoin

Bitcoin dropped over the weekend after trying to break its oblique resistance line for several days. The daily technical situation is now rather negative with a CCI and a WaveTrends that have already given a sales signal while the MACD is curving down.

On a 4-hour horizon, the technical situation remains uncertain, but is more positive than on a daily horizon as evidenced by the MACD which is about to cross and the CCI and WaveTrends which have already crossed.

What to do about it?

If you have purchased the $11,200 test, take your short-term profits, we do not recommend opening a position at this time.

  • The supports of the day are at 11200$ – 10986$
  • The resistances of the day are at 11500$ – 12000$

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Ethereum

Unlike Bitcoin, ETH is evolving below its monthly opening level with a daily technical situation that remains negative at the moment.

Over a 4-hour horizon, the indicators remain on an upward trend, but we can nevertheless see signs of downward curvature.

What to do about it?

We advise you to wait for a return on support or a resistance break before opening a position.

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

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Conclusion

BTC and ETH are between support and resistance. 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!

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