Market Analysis of September 04, 2019

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Marketcap

The marketcap has been moving down (-1.17%) since yesterday. The total capitalization is 271 582 854 643 USD.

Bitcoin totals 189 348 945 577 USD of capitalization for a dominance of 70.50%.

Ethereum’s marketcap is 19 203 468 780 USD, followed by Ripple with 11 198 423 991 USD.

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HOW TO READ THE MARKET SENTIMENT ?

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Bitcoin

Bitcoin closed the previous session at $10617 after scoring a high of $10,783. The daily technical situation remains positive even if we can see signs of a reversal on the CCI.

Over a shorter time horizon, in 4 hours, the indicators are negative with a WaveTrends and a CCI that have already given a sales signal. The MACD has not yet crossed but shows signs of downward curves.

What to do about it?

Despite the increase that occurred during the previous session, the 4h technical situation still pleads for a return to the weekly and monthly opening levels. We therefore recommend to wait for a probable return on these support levels before positioning yourself for purchase.

  • The supports of the day are at 10500$ – 10080$
  • The resistances of the day are at 10800$ – 11000$

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Ethereum

Like the BTC, Ethereum’s daily technical situation is rather positive, but the technical indicators over a 4-hour time horizon are bearish. A return to the weekly opening level is therefore likely.

What to do about it?

Wait for a return on support before positioning yourself for purchase.

  • The supports of the day are at 171.2$ – 160$
  • The resistances of the day are at 180$ – 195$

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Conclusion

We advise you to wait for a return on support for BTC and ETH.


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See you tomorrow for a new market analysis!

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