Market Analysis of July 03, 2020

The marketcap has been moving down (-0.98%) since yesterday. The total capitalization is 260 407 990 021 USD.

Bitcoin totals 167 803 649 935 USD of capitalization for a dominance of 64.5%. Ethereum’s marketcap is 25 351 928 435  USD, followed by Tether with 9 193 289 142 USD.

Bitcoin Analysis

Bitcoin closed lower, trading around $9097, below its Weekly Open and Monthly Open. It is still in range.

The daily technical situation is still negative and remains negative in 4 hours.

What to do about it?

Well once again, you have to be patient. The BTC is not in an easy position to trade and there is far too much uncertainty to send a long or a short.

  • The supports of the day are at 9000$ — 8600$
  • The resistances of the day are at 9250$ — 9400$

Ethereum Analysis

ETH closed lower and is trading around $227, just below resistance and still at the lower end of the range.

The daily technical situation is negative and remains negative in 4 hours as well.

What can we do about it?

Like the BTC, ETH is not in a good position to trade. You have to be patient.

  • The supports of the day are at 217$ — 207$
  • The resistances of the day are at 228$ — 253$

Conclusion

The daily technical situation is still negative for ETH and BTC and you have to be patient before trading them

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