Market Analysis of September 10, 2019

2 6 1

[vc_row][vc_column][vc_column_text]

Marketcap

The marketcap has been moving up (+0.28%) since yesterday. The total capitalization is 264 909 931 570 USD.

Bitcoin totals 184 600 807 516 USD of capitalization for a dominance of 70%.

Ethereum’s marketcap is 19 608 923 101 USD, followed by Ripple with 11 251 676 800 USD.

[/vc_column_text][vc_empty_space][vc_single_image image=”2867″ 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

Bitcoin closed the previous session in the form of a doji, thus materializing the uncertainty in the markets yesterday. BTC is currently evolving around $10,300 with a rather negative daily technical situation.

 

Indeed, the WaveTrends gave a sales signal just like the CCI. The MACD has still not crossed downward but there are signs of downward curves.

Over a 4-hour horizon, the indicators are also bearish but are approaching their oversold zone.

What to do about it?

We recommend waiting for a return to the monthly opening level or a break in the resistance before positioning yourself.

  • The supports of the day are at 10080$ – 9800$
  • The resistances of the day are at 10500$ – 10800$

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

Ethereum

ETH closed the previous session as a weekly open in the form of a huge doji. The current candle takes the form of an inverted hammer but it will be necessary to wait for the daily closing to have the confirmation.

The daily technical situation, unlike that of the BTC, is positive. Nevertheless, if we look at a 4-hour horizon, we see that the CCI is bearish and that the WaveTrends and the MACD show signs of bearish curves.

What to do about it?

A return on the monthly open is not to be ruled out, and the daily technical situation is positive. This lack of convergence between the different time horizons leads us to be cautious, so we will wait for a return on support or a break in resistance before positioning ourselves.

  • The supports of the day are at 180$ – 171.2$
  • The resistances of the day are at 185$ – 195$

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

Conclusion

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


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