The marketcap has been moving up (+7.41%) since yesterday. The total capitalization is 308.333.099.982 USD.
Bitcoin totals 209.057.617.306 USD of capitalization for a dominance of 67.90%.
Ethereum’s marketcap is 24.656.063.293 USD, followed by Ripple with 13.823.930.147 USD.
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Bitcoin has been increasing since the beginning of August with a 16% increase over the period. The Bitcoin is evolving above its weekly opening level with a positive technical situation. Indeed, the MACD, WaveTrends and CCI are increasing without showing any signs of reversal.
On a shorter horizon, in 4 hours, the technical indicators are in overbought territory and the CCI is starting to show signs of reversal. A return to the weekly opening level cannot therefore be ruled out.
What to do about it?
Place your stop-loss above your purchase price to secure your profits if you are already in position. If you are not in position, wait until the $11800 break or a return on support before positioning yourself.
- The supports of the day are at 10986$ – 10700$
- The resistances of the day are at 11800$ – 12500$
The technical situation of the Ethereum is similar to that of the BTC, positive on the daily horizon but with a risk of correction on the 4-hour horizon.
In addition, ETH now seems to be breaking its consolidation triangle upward, which does not prevent a subsequent pullback. If the latter intervenes, it will be an excellent entry point to target the $230 level.
Be careful, however, to take into account the situation of Bitcoin.
What to do about it?
We observe the reaction of the ETH after breaking the triangle and we position ourselves on pullback. For those of you already in position, stop-loss above your purchase price as usual!
- The supports of the day are at 220$ – 205$
- The resistances of the day are at 230$ – 235$
We advise you to wait for the confirmation of the fences, which will be the case by the time you read these lines, and to position yourself on the pullback if it is confirmed.
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