Market Analysis of October 18, 2019

2 14

The marketcap has been moving down (-1.20%) since yesterday. The total capitalization is 216 657 166 448 USD.

Bitcoin totals 143 280 735 035 USD of capitalization for a dominance of 66.10%. Ethereum’s marketcap is 18 867 183 511 USD, followed by Ripple with 12 492 762 137 USD.

Bitcoin Analysis

Bitcoin closed up to $8070.5, but it is starting to fall and is currently trading around $7870.

The daily technical situation is negative, the CCI and WaveTrends are down and the MACD shows a downward curve.

Over a time horizon of 4 hours, the technical situation is also negative. We have all 3 indicators down.

What to do about it?

BTC is in a bearish movement, the level of 7800$ is an important support and we advise you to watch if the BTC comes to test it. In the event of a broken support, a more significant decrease can be considered.

  • The supports of the day are at 7800$ — 7200$
  • The resistances of the day are at 8300$ — 8800$

Ethereum Analysis

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ETH Closed up before following the BTC and being bearish today by moving towards $171.

The daily technical situation is negative, the CCI and WaveTrends are down and the MACD shows a slight downward curve as well.

Over a time horizon of 4 hours, the technical situation remains negative.

What to do about it?

ETH is down, a test of $168 is to be considered and will determine its direction.

  • The supports of the day are at 168$ — 155$
  • The resistances of the day are at 181$ — 188$

Conclusion

BTC and ETH are down, be careful for bounces or broken supports.

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