The marketcap has been moving up (+0.75%) since yesterday. The total capitalization is 260 104 222 978 USD.
Bitcoin totals 168 297 030 140 USD of capitalization for a dominance of 64.7%. Ethereum’s marketcap is 25 277 535 513 USD, followed by Tether with 9 200 817 038 USD.
The BTC closed higher and is currently trading around $9144. The Weekly Open is taking a supporting role.
The daily technical situation is negative but we can see signs of a bullish turnaround on the WaveTrends. In 4 hours, the situation is positive.
What to do about it?
The likely scenario is that the BTC will rise slightly in the short term, but launching a long one now would be too risky. The supporting role of the Weekly Open is also weak and should be confirmed by another test.
ETH closed higher like the BTC and its Weekly also serves as a support at the moment. ETH is trading around $227.
The daily technical situation is negative but positive in 4 hours.
What can we do about it?
The expected scenario would be a small rally as we are at the bottom of the range but it remains risky. ETH is just below the $228 level which sometimes plays a role of support or resistance. Therefore it is not advisable to trade in this position.
The daily technical situation is still negative for ETH and BTC but bullish on the short term. But too risky to long!
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