Market Analysis of October 23, 2019

2 17

The marketcap has been moving down (-2.85%) since yesterday. The total capitalization is 217 217 441 466 USD.

Bitcoin totals 144 431 620 417 USD of capitalization for a dominance of 66.50%. Ethereum’s marketcap is 18 114 007 112 USD, followed by Ripple with 12 520 500 029 USD.

Bitcoin Analysis

The Bitcoin closed with a bearish movement and is currently trading at $7960.

The daily technical situation is rather negative. WaveTrends crossed downwards, CCI is slightly downwards and MACD is up but shows signs of curvature.

Over a time horizon of 4 hours, the technical situation is negative, the indicators are all down.

What to do about it?

The BTC has been rejected by the Monthly Open and the Weekly Open but is unable to get below 7800 for the moment. It continues its evolution in range, always complicated to trade.

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

Ethereum Analysis

eth 17

ETH closed with a downward movement and is currently trading at around $166.5.

The daily technical situation is negative, all 3 indicators are down.

Over a time horizon of 4 hours, the situation remains rather negative, MACD and WaveTrends on the decline but the CCI is recovering on the rise.

What to do about it?

ETH continues to evolve in the same way as the BTC, which makes it difficult to trade.

  • The supports of the day are at 165$ — 152$
  • The resistances of the day are at 175$ — 181.35$

Conclusion

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

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