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Market Analysis of August 14, 2019

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Marketcap

The marketcap has been moving down (-4.96%) since yesterday. The total capitalization is 280.545.271.754 USD.

Bitcoin totals 189.455.187.482 USD of capitalization for a dominance of 67.5%.

Ethereum’s marketcap is 22.255.720.311 USD, followed by Ripple with 12.599.670.245 USD.

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HOW TO READ THE MARKET SENTIMENT ?

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Bitcoin

BTC fell sharply in the previous session and closed below the $10,986 level. The daily technical situation remains negative for the moment with a sales signal given on each of the indicators.

On a shorter horizon, in 4 hours, the situation is slightly more positive with indicators in their oversold area and a CCI that shows signs of reversal.

What to do about it?

For the moment the situation is too unstable on Bitcoin, we recommend to wait for a return on support before reassessing the situation.

  • The supports of the day are at 10500$ – 10096$
  • The resistances of the day are at 10986$ – 11200$

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Ethereum

ETH has bounced back on its support area between $202.5 and $205. and is now around $207. The daily technical situation remains negative but seems to be closer to a bottom than its BTC counterpart.
In 4 hours, same bell ringing, negative indicators but approaching their oversold zone.

What to do about it?

If you bought for $205 in the previous session, place your stop-loss above your purchase price. If you are not yet in position, wait for a return to the support or a major resistance break.

  • The supports of the day are at 205$ – 190$
  • The resistances of the day are at 212$ – 216$

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Conclusion

BTC and ETH are between support and resistance. We advise you to wait for the return on support or a resistance break for BTC and ETH before positioning yourself.


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See you tomorrow for a new market analysis!

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