Market Analysis of September 27, 2019

The marketcap has been moving down (-3.35%) since yesterday. The total capitalization is 213 940 481 150 USD.

Bitcoin totals 145 336 737 569 USD of capitalization for a dominance of 67.90%. Ethereum’s marketcap is 17 977 268 471 USD, followed by Ripple with 10 479 433 984 USD.

Market Sentiment

HOW TO READ THE MARKET SENTIMENT ?

Bitcoin Analysis

Bitcoin closed the previous session down after falling below the $8,000 level. BTC is currently operating just above its liquidity zone but a test of $7500 is still not to be ruled out. The daily technical situation remains negative even if we can see a reversal on the CCI and signs of curvature on the WaveTrends. Over a shorter time horizon, technical indicators seem to argue for a bullish rebound.
What to do about it?

The situation is too uncertain for the moment, a return to the $7500 is likely, which will be an excellent opportunity to move on to the purchase.

  • The supports of the day are at 8000$ — 7200$
  • The resistances of the day are at 9000$ — 9600$

Ethereum Analysis

The same is true for ETH, prices are just above their zone of liquidity, which is holding up for the time being. Technical indicators remain bearish on a daily horizon.

On a 4-hour horizon, the technical situation is positive, a monthly open test at $172 is therefore possible.

What to do about it?

The situation is also quite uncertain for ETH, so we will wait for a return on support or a break in the monthly before positioning ourselves.

  • The supports of the day are at 160$ — 150$
  • The resistances of the day are at 172$ — 189$

Conclusion

We advise you to be attentive to the evolution of the BTC and ETH which is being consolidated before starting their next movements.

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