Market Analysis of December 13, 2019

Days Analysis 9

The marketcap has been moving up (0.94%) since yesterday. The total capitalization is 197 026 345 829 USD.

Bitcoin totals 131 367 845 326 USD of capitalization for a dominance of 66.6%. Ethereum’s marketcap is 15 765 851 069 USD, followed by Ripple with  9 457 306 417 USD.

Bitcoin Analysis

The Bitcoin closed down for the 4th day in a row with a candle symbolizing a battle between buyers and sellers. Indecision is always present on the market. The BTC is around $7206.

The daily technical situation is rather positive but the indicators are almost flat.

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

BTC 9
What to do about it?

The BTC is still in consolidation and is not interesting to trade at the moment. We have to wait for a test of the $7100 or $7,500.

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

Ethereum Analysis

ETH 9

ETH closed with a bullish movement by a doji symbolizing a buying force present and evolving around 143.8$.

The daily technical situation is rather negative but the indicators are almost flat as for the BTC.

Over a time horizon of 4 hours, the technical situation is rather positive but remains rather uncertain.

What to do about it?

Like BTC, you must be patient and wait for a test of a high level. ETH continues its evolution in the range.

  • The supports of the day are at 140$ — 132$
  • The resistances of the day are at 151.5$ — 157$

Conclusion

Be patient and monitor your important levels.

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