The marketcap has been Moving down (-0.76%) since yesterday. The total capitalization is 566 301 705 225 USD.
Bitcoin totals 355 181 012 701 USD of capitalization for a dominance of 62.7%. Ethereum’s marketcap is 66 869 350 807 USD, followed by Ripple with 27 195 670 512 USD.
Market Sentiment
Bitcoin Analysis
The BTC continue its consolidation between 19000$ and 19400$
The daily technical situation is negative and if we zoom in 4H timeframe, the situation is also negative with a bearish MACD and WaveTrend.
What to do about it?
The BTC does not manage to pass the 20000$ mark, there is also a drop in volume. The best thing to do is to wait for a better entry point, either long or short given the direction of the coming breakout.
- The supports of the day are at 18200$ — 18800$
- The resistances of the day are at 19400$ — 20000$
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Ethereum Analysis
ETH is following BTC as volume dries up on both coin and is currently trading at around 584$.
The daily as well as the 4h technical situation are both bearish with MACD and WaveTrend negative.
- The supports of the day are at 570$ — 580$
- The resistances of the day are at 600$ — 620$
What to do about it?
So the situation is rather delicate and we will wait for a break on one side or the other, in order to open a retracement position based on the structure that will then be created.
Conclusion
We have to wait for something to happen, we won’t short blindly a resistance as you know if you follow our stream. For now we’ll have to be patient!
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