Market Analysis of October 09, 2019

The marketcap has been moving up (+0.29%) since yesterday. The total capitalization is 223 644 011 819 USD.

Bitcoin totals 148 316 314 896 USD of capitalization for a dominance of 66.30%. Ethereum’s marketcap is 19 742 631 812 USD, followed by Ripple with 12 022 600 515 USD.

Market Sentiment

HOW TO READ THE MARKET SENTIMENT ?

Bitcoin Analysis

Bitcoin closed down (-0.34%) with a star-shaped candle showing us the indecision that prevails on the market for the moment. BTC is currently trading at around $8165, still in consolidation between the Monthly Open and Weekly Open which serve as resistance and support respectively.

The daily technical situation is rather positive. The CCI is horizontal but the MACD and WaveTrends are both slightly up.

Over a time horizon of 4 hours, the situation is also quite positive. Despite a slightly lower CCI, the MACD is up and the WaveTrends has crossed up.

What to do about it?

The BTC continues its evolution in range, it has not yet come to test the weekly and may do so today.

  • The supports of the day are at 7700$ — 7400$
  • The resistances of the day are at 8500$ — 9250$

Ethereum Analysis

ETH a clôturé par un mouvement haussier en forme de doji montrant bien l’incertitude régnante sur le marché tout comme pour le BTC. Il évolue pour le moment aux alentours de 181.65$.

La situation technique journalière est positive. En effet tous les indicateurs sont à la hausse.

Sur un horizon de 4h, la situation technique reste plutôt positive. Malgré un CCI légèrement baissier, le MACD et le WaveTrends restent à la hausse.

What to do about it?

ETH seems to evolve in range, the Monthly Open is strongly tested for the moment so be careful for a possible breakage because ETH seems to resume a slightly upward trend.

  • The supports of the day are at 169$ — 162$
  • The resistances of the day are at 181.35$ — 189$

Conclusion

BTC and ETH are still in consolidation but ETH seems to be taking a bullish trend and is testing its resistance which is the Monthly Open, be careful in case of breakage.

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.

Leave a Comment

Your email address will not be published. Required fields are marked *

Scroll to Top
%d bloggers like this: