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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.
You can join us on Telegram for a follow-up of the market throughout the day.
For any question, our team will be happy to answer you on our support which is open 7/7 days.
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See you tomorrow for a new market analysis!
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