Market Analysis of January 6, 2020

Days Analysis 2

The marketcap has been moving up (+1.79) since yesterday. The total capitalization is 202 209 327 694 USD.

Bitcoin totals 136 995 869 358 USD of capitalization for a dominance of 67.8%. Ethereum’s marketcap is 15 339 109 768 USD, followed by Ripple with 9 008 393 327 USD.

Bitcoin Analysis

Bitcoin has broken its oblique resistance and is currently trading around 7500 in a rather positive daily technical configuration.

The BTC could nevertheless come and retest the 7275 before bouncing back and possibly registering a higher high.

BTC 2
What to do about it?

Wait for a return to support or a confirmed break of the 7500 resistance zone.

  • The supports of the day are at 7275$ — 70780$
  • The resistances of the day are at 7530$ — 7800$

Ethereum Analysis

ETH 2

ETH also closed higher, trading around $140.

The daily technical situation is positive.

Over a time horizon of 4 hours, the situation remains positive but the indicators are approaching their oversold zone.

What to do?

If we close above $140 we can hope to see the $150 again

  • The supports of the day are at 128$ — 123$
  • The resistances of the day are at 143$ — 150$

Conclusion

We still have to wait for the fence before positioning ourselves.

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