Market Analysis of September 05, 2019

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Marketcap

The marketcap has been moving down (-1.47%) since yesterday. The total capitalization is 267 582 234 264 USD.

Bitcoin totals 189 298 488 881 USD of capitalization for a dominance of 70.70%.

Ethereum’s marketcap is 18 876 309 173 USD, followed by Ripple with 11 108 530 008 USD.

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HOW TO READ THE MARKET SENTIMENT ?

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Bitcoin

The Bitcoin closed the previous session in the form of a doji, materializing the indecision that is present in the market. However, the daily technical situation remains positive despite a CCI that is starting to turn downwards.

On a shorter horizon, in 4 hours, the indicators are always negative and show a potential for decline. A return on the weekly opening at $9767 cannot be ruled out.

What to do about it?

Nothing new since yesterday, we recommend patience while waiting for a support retest.

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

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Ethereum

Ethereum’s daily technical situation remains positive but shows signs of running out of steam even before a real increase has materialized.

The 4h situation is negative and we will therefore remain cautious.

What to do about it?

As with the BTC, we will wait for a return on support before opening any long position.

  • 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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