Market Analysis of July 09, 2020

The marketcap has been moving up (+1.38%) since yesterday. The total capitalization is 275 610 376 865 USD.

Bitcoin totals 172 857 803 368 USD of capitalization for a dominance of 62.7%. Ethereum’s marketcap is 27 410 405 860 USD, followed by Tether with 9 182 885 728 USD.

Bitcoin Analysis

BTC closed higher, trading around $9386. It has gone to $10 from our entry point to $9500 for the short. BTC’s dominance is still decreasing.

The daily technical situation is positive and remains rather positive in 4 hours even if the WaveTrends has crossed lower.

What to do about it?

If the BTC rises to $9500 the short remains valid.

  • The supports of the day are at 9250$ — 9000$
  • The resistances of the day are at 9500$ — 9800$

Ethereum Analysis

ETH closed higher as well, trading around $246.

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

What to do?

If the level holds above $243, we can still hope to see $253 again.

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

Conclusion

The daily technical situation is still positive for ETH and BTC.

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