Market Analysis of December 9, 2019

Days Analysis 5

The marketcap has been moving down (-0.44%) since yesterday. The total capitalization is 202 881 512 016 USD.

Bitcoin totals 135 476 151 276 USD of capitalization for a dominance of 66.8%. Ethereum’s marketcap is 16 269 442 759 USD, followed by Ripple with 9 832 710 215 USD.

Bitcoin Analysis

The Bitcoin closed up with a doji showing market indecision and is now trading around $7470. The level of $7600 and $7800 is used as resistance for the moment.

The daily technical situation is positive with MACD, CCI and WaveTrends on the rise.

Over a time horizon of 4 hours, the technical situation is rather positive despite signs of downward curvature.

 

BTC 5
What to do about it?

We do not recommend trading the BTC in the middle of the range, but be careful if a support or resistance breaks.

  • The supports of the day are at 7300$ — 7100$
  • The resistances of the day are at 7600$ — 7800$

Ethereum Analysis

ETH 5

ETH closed up and is currently trading at $149.2. Like the BTC, it is in consolidation. The resistance and supports remain the same for the moment.

The daily technical situation is positive.

Over a time horizon of 4 hours, the situation remains rather positive despite signs of downward curvature.

What to do about it?

We still have to wait for a breakage and a retest of the $151.5

 

  • The supports of the day are at 143$ — 140$
  • The resistances of the day are at 151.5$ — 157$

Conclusion

BTC and ETH are in consolidation, it is necessary to be patient and attentive to their movement.

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