Market Analysis of December 4, 2019

The marketcap has been moving down (-0.84%) since yesterday. The total capitalization is 195 450 719 252 USD.

Bitcoin totals 130 425 479 854 USD of capitalization for a dominance of 66.6%. Ethereum’s marketcap is 15 908 098 023 USD, followed by Ripple with 9 245 389 418 USD.

Bitcoin Analysis

The price dropped to the bottom of the liquidity range, reaching a low of $7085.

Currently the price is bouncing back and trying to break the $7200. However, there is still some liquidity around $7,000 that could allow a better rebound if the $7,200 is not broken.

From a technical point of view, the indicators are starting to show signs of a bullish turnaround in the medium term, so it is possible to expect a positive reaction in the coming hours/days.

 

 

What to do about it?

Wait and see!

  • The supports of the day are at 7000$ — 6800$
  • The resistances of the day are at 7800$ — 8000$

Ethereum Analysis

The old resistance of the inverse head and shoulders reacts well as a support for the moment and it seems that a new test has been carried out on this new support.

From a technical point of view, the situation is the same as for the BTC, the indicators are beginning to show signs of reversal in the medium term.

  • The supports of the day are at 143$ — 140$
  • The resistances of the day are at 146$ — 157$

Conclusion

Wait and see if BTC and ETH are bullish, then place your stop loss

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