Market Analysis of August 15, 2019

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Marketcap

The marketcap has been moving down (-4.06%) since yesterday. The total capitalization is 263.827.205.578 USD.

Bitcoin totals 180.946.767.605 USD of capitalization for a dominance of 67.50%.

Ethereum’s marketcap is 19.752.660.742 USD, followed by Ripple with 11.412.997.238 USD.

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HOW TO READ THE MARKET SENTIMENT ?

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Bitcoin

BTC continued its decline to finally reach a low of $9467. After hitting this low point, the price recovered very well to finally reach $10,130.

On a shorter horizon, in 4 hours, the situation is positive. The indicators are quite low. There was a fence of a doji candle which is a good sign as well as a bounce on the oblique support.

What to do about it?

If you have returned to position during the rebound, already recover gains and raise your stop loss to secure your profit. If you are not in position, wait for a real break of $10,700 or a return on support.

  • The supports of the day are at 10096$ – 9750$
  • The resistances of the day are at 10500$ – 10700$

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Ethereum

ETH is not in very good shape. After falling to $173.6, it is now at $184.25.

However, it is possible that ETH is in a bearish narrowing bevel which is an often bullish configuration. In addition, the indicators in a 4-hour or daily horizon are quite low, so the price could rise.

What to do about it?

If you bought after the last fall, place your stop loss below $170 (horizontal and bevel support). If you are not yet in position, wait for a return to the bevel support or a break in the resistance around $210.

  • The supports of the day are at 170$ – 150$
  • The resistances of the day are at 205$ – 235$

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Conclusion

BTC and ETH have just bounced back on their support. We advise you to wait for the return on support or a resistance break for BTC and ETH before positioning yourself.


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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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