Market Analysis of April 27, 2020

The marketcap has been moving up (+1.27%) since yesterday. The total capitalization is 221 807 093 903 USD.

Bitcoin totals 141 593 581 286 USD of capitalization for a dominance of 63.80%. Ethereum’s marketcap is 21 739 022 260 USD, followed by Ripple with 8 694 840 736 USD.

Market Sentiment

Bitcoin Analysis

The BTC closed higher and is trading around $7,715.

The daily technical situation is positive, uncertain in 4 hours with a WaveTrends still rising but a MACD that just crossed lower. It becomes negative in 1 hour.

What to do about it?

After testing the 7800 and being pushed back, the BTC stagnates at $7715. The 7800$ thus hold their role of resistance and in case of retest, a small short can be considered.

Ethereum Analysis

eth 13

ETH closed higher and is trading around $196.

The daily technical situation is positive but becomes negative in 4 hours and remains negative in 1 hour.

What to do?

If ETH goes down to $193, a long can be launched, assuming the old resistance has indeed become a support.

Conclusion

The daily technical situation is positive for ETH and BTC with a strong buy signal for the long run. 

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