Market Analysis of December 31, 2019

Days Analysis 20

The marketcap has been moving down (-1.69%) since yesterday. The total capitalization is 193 223 207 611 USD.

Bitcoin totals 131 767 761 381 USD of capitalization for a dominance of 68.2%. Ethereum’s marketcap is 14 472 877 924 USD, followed by Ripple with 8 396 175 128 USD.

Bitcoin Analysis

BTC Update

Bitcoin is still evolving in its zone between 7221 and 7273 in a rather negative daily technical context.

The technical indicators on a horizon of 1h and 4h evolve in their oversold zone, so we could see a rebound as long as the above-mentioned zone is not broken.

BTC 20
What to do about it?

Wait for breakage on either side of this zone 7225 – 7275

  • The supports of the day are at 7221$ — 7100$
  • The resistances of the day are at 7275$ — 7400$

Ethereum Analysis

ETH 20

ETH Update

The Ethereum evolves below its weekly opening level as well as below its resistance at 132.30.

The daily technical situation remains positive for the moment as well as on a shorter horizon in 1h and 4h.

What can be done?

We will wait for a return on support or a break in resistance before positioning ourselves for purchase.

  • The supports of the day are at 129.55$ — 123.4$
  • The resistances of the day are at 132.3$ — 133.45$

Conclusion

Patience for BTC before knowing if the zone will become support or resistance, for ETH we will wait for a return on support or a break of resistance.

All the 4C-Trading team wishes you a happy new year 2020!

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