Market Analysis of January 15, 2020

Days Analysis 8

The marketcap has been moving up (+6.09%) since yesterday. The total capitalization is $241 917 678 130 USD.

Bitcoin totals 159 140 268 723 USD of capitalization for a dominance of 65.8%. Ethereum’s marketcap is 18 013 281 222 USD, followed by Ripple with  10 260 999 251 USD.

Bitcoin Analysis

Bitcoin closed higher (almost 10%) and is currently trading around $8726.

The daily technical situation is positive but on a 4 hour time horizon, the situation is rather negative with a WaveTrends that crossed lower.

BTC 8
What to do about it?

If we go below $8600 we can expect to see the 8200 but a rebound is also possible and would allow us to come back and test the $8800.

  • The supports of the day are at 8600$ — 8200$
  • The resistances of the day are at 8800$ — 9400$

Ethereum Analysis

ETH 8

ETH closed higher and is currently trading around $166.

The daily technical situation is positive but we can see the WaveTrends crossing lower on a 4 hour horizon.

What can we do about it?

Set your entry points and prepare your scenarios.

  • The supports of the day are at 159$ — 152$
  • The resistances of the day are at 173$ — 180$

Conclusion

We can expect a small drop and a support test before we position ourselves

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