Market Analysis of December 20, 2019

Days Analysis 14

The marketcap has been moving up (+2.01%) since yesterday. The total capitalization is 190 883 573 095 USD.

Bitcoin totals 130 087 116 312 USD of capitalization for a dominance of 68.2%. Ethereum’s marketcap is 13 978 957 257 USD, followed by Ripple with 8 141 273 760 USD.

Bitcoin Analysis

Bitcoin closed lower and is now trading around $7138. The $7,000 level seems to serve as a support but we are in a consolidation phase. The BTC seems to be regaining its dominance.

The daily technical situation is positive.

On a 4 hour time horizon, the situation remains positive but we can see signs of a bearish curve.

BTC 14
What to do about it?

The BTC is entering a consolidation phase and stands just above $7000. It would be wise to wait for a test of 6800$ before positioning itself.

  • The supports of the day are at 7000$ — 6500$
  • The resistances of the day are at 7500$ — 8000$

Ethereum Analysis

ETH 14

ETH closed lower at around $127 and is in a consolidation phase.

The daily technical situation is rather negative despite an ICE that is expected to be bullish.

Over a 4 hour time horizon, the technical situation is positive. We therefore have a temporal divergence.

What can we do about it?

The direction that ETH will take is difficult to predict. Waiting for a test of support or resistance would be wise before taking a position.

  • The supports of the day are at 121$ — 114$
  • The resistances of the day are at 133$ — 141$

Conclusion

A retest is necessary before positioning yourself.

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