Market Analysis of April 06, 2020

The marketcap has been moving down (3.31%) since yesterday. The total capitalization is 196 799 005 946 USD.

Bitcoin totals 128 521 123 289 USD of capitalization for a dominance of 65.40%. Ethereum’s marketcap is 16 521 484 298 USD, followed by Ripple with 8 120 044 055 USD.

Market Sentiment

HOW TO READ THE MARKET SENTIMENT ?

Bitcoin Analysis

Bitcoin closed lower but rallied today and is trading around $7092.

The daily technical situation is positive and the rest in 4 hours.

What to do about it?

BTC is stagnating just above $7000, former resistance zone. We have to wait for a confirmation of the transformation of this zone into support before launching a long one.

  • The supports of the day are at 7000$ — 6500$
  • The resistances of the day are at 7400$ — 7900$

Ethereum Analysis

ETH closed lower but is also moving back up around $150.

The daily technical situation is positive and remains positive in 4 hours as the BTC.

What to do?

We can hope for a test of its resistance at the $154.7 level.

  • The supports of the day are at 146.4$ — 124.25$
  • The resistances of the day are at 154.7$ — 174$

Conclusion

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

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