Market Analysis of April 01, 2020

The marketcap has been moving down (-1.7%) since yesterday. The total capitalization is 178 363 242 009 USD.

Bitcoin totals 115 726 123 166 USD of capitalization for a dominance of 64.90%. Ethereum’s marketcap is 14 617 021 790 USD, followed by Ripple with 7 561 534 377 USD.

Bitcoin Analysis

The daily technical situation remains positive for the moment but the technical indicators on the 4-hour horizon have given a sales signal. Moreover, the BTC has still not printed a higher high, on the contrary!

What to do about it?

For the moment the BTC is in the middle of its range so nothing immediate. We are currently above a support zone between 6250 and 6290, if the latter breaks we can open a short position to aim for a return to the 6000 zone.

Ethereum Analysis

The situation is similar for Ethereum, which currently trades just above a small liquidity zone between 129.5 and 130.5, which we do not count as a major support.

If this zone is broken, a short position could be opened on pullback.

Conclusion

Both BTC and ETH are unable to register new high points, therefore after breaking their support zone, we will open a short position.

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