The marketcap has been moving down (-0.78%) since yesterday. The total capitalization is 261 407 581 401 USD.
Bitcoin totals 168 666 692 660 USD of capitalization for a dominance of 64.4%. Ethereum’s marketcap is 25 654 173 591 USD, followed by Tether with 9 196 876 532 USD.
BTC closed down in the form of a hammer with its Weekly Open now serving as resistance. It is trading lower for the 4th day in a row and is around $9129.
The daily technical situation is negative and remains negative in 4h and also in 1h.
What to do about it?
The BTC is below a resistance, this is not the time to throw a long or a short, you have to wait for a better entry point. In case of retest of the 9250 zone, a short could be considered but it remains risky.
ETH closed lower as well and is just above support, hovering around $229.
The daily technical situation is negative and remains negative in 4 hours and 1 hour.
What to do?
The situation is bearish, if the $228 support doesn’t hold we can expect to see the $217 back.
The daily technical situation is negative for ETH and BTC and the volume is increasing.
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