Market Analysis of January 28, 2020

Days Analysis 17

The marketcap has been moving up (+3.73%) since yesterday. The total capitalization is 247 576 089 179 USD.

Bitcoin totals 163 580 359 791 USD of capitalization for a dominance of 66.10%. Ethereum’s marketcap is 18 812 177 429 USD, followed by Ripple with 10  179 235 223USD.

Bitcoin Analysis

Bitcoin closed higher and is currently trading around $8994 above the Weekly Open.

The daily technical situation is positive and remains positive over a 4 hour time horizon.

BTC 17
What to do about it?

A test of $9,200 is quite possible, a rejection until the Weekly Open is also a scenario not to be ruled out.

  • The supports of the day are at 8600$ — 8250$
  • The resistances of the day are at 9200$ — 9500$

Ethereum Analysis

ETH 17

ETH closed higher and is currently trading around $171.7 above its Weekly Open.

The daily technical situation is positive and the rest is on a short time horizon.

What can be done?

Wait for a return to support or resistance.

  • The supports of the day are at 169$ — 166$
  • The resistances of the day are at 173.75$ — 178$

Conclusion

The daily technical situation is positive for ETH and BTC

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