Market Analysis of July 10, 2020

The marketcap has been moving up (-2.3%) since yesterday. The total capitalization is 269 271 660 397 USD.

Bitcoin totals 169 167 044 427 USD of capitalization for a dominance of 62.8%. Ethereum’s marketcap is 26 691 159 115 USD, followed by Tether with 9 200 312 177 USD.

Bitcoin Analysis

The BTC closed lower, trading around $9182. After dropping to $10 near our entry on bitmex, the BTC has fallen, cancelling for the moment the expected 9500$ short.

The daily technical situation is positive but becomes negative in 4 hours.

What to do about it?

It’s the return of market indecision, the $9250 zone seems to have become a resistance and the Monthly Open a support but we would need a test to confirm it.

  • The supports of the day are at 9000$ — 8600$
  • The resistances of the day are at 9250$ — 9450$

Ethereum Analysis

ETH closed lower as well after almost hitting $250 and is already around $238, below the $243 zone.

The daily technical situation is positive but with signs of bearish curves. In 4 hours the situation becomes negative.

What to do?

The situation is quite uncertain as for the BTC. We have to wait for a support or resistance test and position ourselves according to the reaction.

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

Conclusion

The daily technical situation is quite uncertain for BTC and ETH.

You can join us on Telegram for a follow-up of the market throughout the day.

For any question, our team will be happy to answer you on our support which is open 7/7 days.

For any information about our subscriptions, please visit our website or contact @butler_4c_bot directly to get all the information you need.

Leave a Comment

Your email address will not be published. Required fields are marked *

Scroll to Top