Market Analysis of June 23, 2020

The marketcap has been moving up (+1.87%) since yesterday. The total capitalization is 272 766 638 288 USD.

Bitcoin totals 176 557 540 009 USD of capitalization for a dominance of 64.7%. Ethereum’s marketcap is 26 934 471 798 USD, followed by Tether with 9 187 784 980 USD.

Bitcoin Analysis

The BTC closed higher to 9780 but did not reach 9800 and is trading around 96010$. Its dominance remains below 65%.

The daily technical situation is uncertain, indeed the MACD is still bearish but the WaveTrends has just crossed higher. In 4 hours, the situation remains positive.

What to do about it?

Well the short around 9800 remains valid, we must wait for a retest of this zone and hope to touch it this time, be careful with your Stop Loss and manage your risk well.

  • The supports of the day are at 9295$ — 9450$
  • The resistances of the day are at 9800$ — 10000$

Ethereum Analysis

ETH closed higher and is trading around $243, it hasn’t yet hit $250 as announced yesterday but it is still likely to do so.

The daily technical situation is rather positive and remains positive in 4 hours.

What to do?

As long as ETH remains above 238, we can expect to test the $250.

  • The supports of the day are at 228$ — 217$
  • The resistances of the day are at 253$ — 270$

Conclusion

The daily technical situation is uncertain for ETH and BTC. 

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