Market Analysis of November 06, 2019

2 2

The marketcap has been moving up (+0.73%) since yesterday. The total capitalization is 253 281 454 984 USD.

Bitcoin totals 169 251 469 362 USD of capitalization for a dominance of 66.80%. Ethereum’s marketcap is 20 767 675 260 USD, followed by Ripple with 13 029 107 128 USD.

Bitcoin Analysis

After the pullback on the triangle resistance, the BTC rose to a high point at a price of $9462.

 

However, there is some weakness on the BTC as well as on the other Alts. In addition, we are also seeing a reversal in indicators and therefore a possibility for the BTC to return to lower levels.

What to do about it?

If you have entered position after the pullback, move your stop above your entry price to secure your profits. If you are not yet in position, wait for a fence above $9500 or a return to $9150.

  • The supports of the day are at 9000$ — 8600$
  • The resistances of the day are at 9400$ — 9800$

Ethereum Analysis

ethh

Unlike the BTC, ETH increased much more than its counterpart from $183 to $194.95.

The weakness is also felt on ETH, which could evolve in an upward bevel and in this case, a downward breach could reduce the price to lower levels.

What to do about it?

If you have entered a position at the pullback level, raise your stop loss to secure your profits. If you are not yet in position, wait for a fence above $195 or a return to the $182 level.

  • The supports of the day are at 182$ — 173$
  • The resistances of the day are at 193$ — 202$

Conclusion

BTC and ETH have risen close to their resistance, wait for a break or a return on support.

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Your email address will not be published.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: