Market Analysis of December 6, 2019

Days Analysis 4

The marketcap has been moving up (+0.80%) since yesterday. The total capitalization is 200 443 238 981 USD.

Bitcoin totals 133 792 371 884 USD of capitalization for a dominance of 66.8%. Ethereum’s marketcap is 16 129 854 095 USD, followed by Ripple with  9 587 430 494 USD.

Bitcoin Analysis

The Bitcoin closed higher during the previous session and briefly passed above its weekly open but failed to break it at the end.

This level, around 7400$, is still used as resistance at the moment and will have to be passed for a 7800$ test to be possible.

The daily technical situation is still positive despite rather flat indicators.

 

BTC 4
What to do about it?

If you are not in position, wait for a break and retest for $7800 before proceeding with the purchase.

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

Ethereum Analysis

ETH 4

Same configuration for ETH, with a higher low, which can mean the beginning of a reversal.

The technical situation here too is rather positive, although flat.

What to do about it?

If you are not in position, we recommend waiting for a break and a retest of the area between $151.05 and $151.5 before proceeding with the purchase.

 

  • The supports of the day are at 143$ — 140$
  • The resistances of the day are at 151$ — 157$

Conclusion

BTC and ETH under resistance, it is preferable to wait for a break and a retest of the latter before positioning yourself for the purchase

 

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