Market Analysis of January 22, 2020

Days Analysis 13

The marketcap has been moving up (+0.98%) since yesterday. The total capitalization is 240 260 791 809 USD.

Bitcoin totals 157 712 498 984 USD of capitalization for a dominance of 65.6%. Ethereum’s marketcap is 18 448 230 678 USD, followed by Ripple with 10 280 175 013 USD.

Bitcoin Analysis

Bitcoin closed higher and is still trading under its Weekly Open at around $8643. The supports and resistances remain the same as yesterday.

The daily technical situation is negative and remains negative under a reduced time horizon.

What to do about it?

Remain cautious and wait for a test of the Weekly or a return to support before positioning yourself.

  • The supports of the day are at 8300$ — 8000$
  • The resistances of the day are at 9050$ — 9400$

Ethereum Analysis

ETH 13

ETH closed higher and is above its Weekly Open. ETh is trading around $168.4.

Its daily technical situation is rather negative and remains rather negative under a reduced time horizon as well.

What to do?

As for the BTC, you have to wait for a test of the Weekly Open or a return to support and resistance before positioning yourself.

 

  • The supports of the day are at 162.25$ — 158.45$
  • The resistances of the day are at 169.4$ — 177.15$

Conclusion

Wait for a test of the Weekly Open or a test of the supports and resistances.

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