Market Analysis of October 22, 2019

2 16

The marketcap has been moving up (+0.40%) since yesterday. The total capitalization is 223 580 642 962 USD. Bitcoin totals 148 459 138 949 USD of capitalization for a dominance of 66.40%. Ethereum’s marketcap is 18 897 294 410 USD, followed by Ripple with 12 855 736 160 USD.

Bitcoin Analysis

Bitcoin closed lower and is currently trading at around $8229. The shape of the candle reveals a fierce battle between buyers and sellers, both of whom are very present. The Weekly Open seems to be taking on a role of resistance, but this remains to be confirmed.

The daily technical situation is positive. MACD, CCI and WaveTrends are on the rise.

Over a time horizon of 4 hours, the technical situation is less clear and rather positive but the MACD and WaveTrends are on the rise while showing signs of curves. The CCI is horizontal.

What to do about it?

The BTC comes to test the Weekly, the result will tell us the direction of it.

  • The supports of the day are at 8130$ — 7800$
  • The resistances of the day are at 8300$ — 8800$

Ethereum Analysis

eth 16

ETH closed down and is trading under the Weekly Open at around 174.3. The technical situation is rather positive but not clear. The CCI is up, but the WaveTrends and MACD are horizontal. Over a time horizon of 4 hours, the technical situation is positive. All 3 indicators are on the rise.

What to do about it?

A weekly test would indicate the direction of ETH.

  • The supports of the day are at 168$ — 155$
  • The resistances of the day are at 178$ — 181.35$

Conclusion

BTC and ETH continue their evolutions in range, without much trend movement.

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