The marketcap has been moving down (+0.22%) since yesterday. The total capitalization is 239 856 990 896 USD.
Bitcoin totals 158 544 076 717 USD of capitalization for a dominance of 66.00%. Ethereum’s marketcap is 20 194 709 146 USD, followed by Ripple with 11 882 674 722 USD.
A hectic weekend for the Bitcoin with a first fall to reach $8670 and finally rise to $8200 for a second fall and hit a low of $8571. Currently the BTC is evolving at the 8750$ level.
For the moment, the situation is still not positive. Yes, a bullish divergence could be observed but the price did not react to this and could evolve in an upward channel that often ends in a downward breach.
What to do about it?
We do not recommend opening a long position. If you have opened one following the bullish divergence, consider bringing your stop loss closer together. The price could drop again to return to the $8200 – $8,300 level, waiting for this moment is the most interesting for the moment.
Ethereum also experienced a rejection from the high point of 191.95 to 183.80. Currently the price is $185.70.
No real configuration on ETH at the moment, but if the latter has to follow its counterpart, then it is possible to see the price go back to lower levels.
A return to the $175-180 zone is therefore not impossible and we recommend that you wait for a return to this zone before initiating a long position.
The daily technical situation is negative for ETH and BTC, so we recommend waiting for a return to support areas before opening a long position.
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