Market Analysis of April 09, 2020

The marketcap has been moving up (+0.7%) since yesterday. The total capitalization is 209 545 505 170 USD.

Bitcoin totals 133 851 399 401 USD of capitalization for a dominance of 63.90%. Ethereum’s marketcap is 19 035 152 195 USD, followed by Ripple with 8 775 011 956 USD.

Market Sentiment

HOW TO READ THE MARKET SENTIMENT ?

Bitcoin Analysis

Bitcoin closed higher, trading around $7318, with the $7,400 resistance holding up for a second time.

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

What to do about it?

The BTC is consolidating and below its $7,400 resistance, better to watch for the moment.

  • The supports of the day are at 7000$ — 6500$
  • The resistances of the day are at 7500$ — 7700$

Ethereum Analysis

ETH closed higher and is trading around $171.

The daily technical situation is positive and shows bearish signs in 4 hours.

What can we do about it?

The situation is quite uncertain and ETH is below its $174 resistance. It would be preferable to wait for a retest before taking position.

  • The supports of the day are at 154.7$ — 146.4$
  • The resistances of the day are at 174$ — 177$

Conclusion

The daily technical situation is positive for ETH and BTC.

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