Market Analysis of October 11, 2019

The marketcap has been moving down (-2.03%) since yesterday. The total capitalization is 226 894 256 790 USD.

Bitcoin totals 151 889 731 544 USD of capitalization for a dominance of 66.90%. Ethereum’s marketcap is 20 357 469 768 USD, followed by Ripple with 11 658 253 097 USD.

Market Sentiment

HOW TO READ THE MARKET SENTIMENT ?

Bitcoin Analysis

Bitcoin closed lower, with a doji that shows us some uncertainty in the market. BTC is currently evolving towards $8400 and continues its consolidation.

The daily technical situation is rather positive, the MACD and WaveTrends are up but the CCI is down. Over a time horizon of 4 hours, the situation is rather negative. The MACD and WaveTrends are slightly down while the CCI is horizontal.

What to do about it?

The BTC is still evolving in range, it is possible that it will come to test the support that is the Monthly Open. BTC remains difficult to trade at the moment.

  • The supports of the day are at 8300$ — 7800$
  • The resistances of the day are at 8900$ — 9250$

Ethereum Analysis

ETH closed lower and is currently trading at around $184.9. It is on an upward trend but is currently still on the decline.

The technical financial situation is rather positive. WaveTrends and MACD are up but CCI is down. On a 4-hour horizon, the technical situation is negative. WaveTrends and MACD are slightly down but CCI is down.

What to do about it?

ETH evolves in range with a slightly upward trend, a Monthly test is possible and the creation of a higher low before going up is a scenario to consider.

  • The supports of the day are at 182$ — 177$
  • The resistances of the day are at 198$ — 211$

Conclusion

BTC and ETH are down in their ranges but a rebound is a scenario to be seriously considered.

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