The marketcap has been moving up (+4.2%) since yesterday. The total capitalization is 245 591 577 173 USD.
Bitcoin totals 161 997 359 494 USD of capitalization for a dominance of 66.00%. Ethereum’s marketcap is 18 754 212 973 USD, followed by Ripple with 10 250 885 297 USD.
Ignoring its heavily overbought technical situation, Bitcoin broke the 8900 level during the first part of the session and is now approaching the 9000 level.
Before moving upwards, a break in the 9050 – 9100 range will leave the door open for a 9400 – 9500 test.
What to do about it?
There is no entry point with a good risk/return ratio, therefore one will either wait for a break and retest of the 9100s or a return to the 8300 support zone to initiate a buy position.
If the daily closing shows a rejection of the 9000, then a short position can be initiated on shorter time horizons.
ETH closed lower and after rebounding on the $159 support, it is trading around $170.9.
The daily technical situation is positive and remains positive over a 4 hour time horizon.
After testing the $159 support, a test of the $173 resistance will be interesting.
Waiting for a return on support or a test and retest on resistance
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