Market Analysis of December 10, 2019

Days Analysis 6

The marketcap has been moving down (-2.05%) since yesterday. The total capitalization is 198 721 587 776 USD.

Bitcoin totals 132 751 625 493 USD of capitalization for a dominance of 66.8%. Ethereum’s marketcap is 16 040 209 143 USD, followed by Ripple with 9 636 972 966 USD.

Bitcoin Analysis

The BTC closed down after a big battle between sellers and buyers and is trading around $7327. It is still in consolidation.

The daily technical situation is rather neutral for the moment, the indicators are flat and the WaveTrends has crossed downwards.

Over a time horizon of 4 hours, the technical situation remains uncertain.

BTC 6
What to do about it?

The BTC is always in the middle of the range and it is not advisable to trade in the middle of the range.

  • The supports of the day are at 7100$ — 6800$
  • The resistances of the day are at 7600$ — 7800$

Ethereum Analysis

ETH 6

ETH closed lower and is now trading at around $147. Like the BTC, it is in consolidation.

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

Over a time horizon of 4 hours, the technical situation is uncertain.

What to do about it?

Dojis show us a battle between a buying and selling force, we advise you to wait for one to prevail over the other.

  • 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, in the middle of the range and therefore not interesting to trade at the moment. Patience! Patience!

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