Market Analysis of December 5, 2019

Days Analysis 3

The marketcap has been moving up (+1.87%) since yesterday. The total capitalization is 198 860 940 940USD.

Bitcoin totals 133 159 628 903 USD of capitalization for a dominance of 66.9%. Ethereum’s marketcap is 15 982 009 232 USD, followed by Ripple with 9 370 308 526 USD.

Bitcoin Analysis

The climb encountered having reached 7800$ clearly corresponds to a purchase of whales. Around 10k BTC were purchased quickly. After that, the descent was just as fast.

The Bitcoin finally returned to the bottom of the liquidity range, reaching a low of $7080 and finally bouncing back into a zone of resistance.

If this area manages to be broken, then we could see a more traditional rise towards the 7800$ with a real increase in the price.

However, if this level still cannot be broken, I suggest that you wait for a reaction at the 6900$ – 7000$ level where liquidity could be recovered and start to rise again.

BTC 3
What to do about it?

If the price reaches $7,000 but fails to rebound, it is still possible to review the $6,500 – $6,800 area.

  • The supports of the day are at 7100$ — 6800$
  • The resistances of the day are at 7400$ — 7800$

Ethereum Analysis

ETH 3

The ETH movement has not been as significant. One thing that remains constant is the $143 level that holds as support for the moment.

From a technical point of view, 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 the levels hold. 

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