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Market Analysis of August 22, 2019

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Marketcap

The marketcap has been moving down (-1.68%) since yesterday. The total capitalization is 260.535.247.048 USD.

Bitcoin totals 179.172.274.467 USD of capitalization for a dominance of 68.80%.

Ethereum’s marketcap is 19.968.337.618 USD, followed by Ripple with 11.375.464.776 USD.

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HOW TO READ THE MARKET SENTIMENT ?

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Bitcoin

Bitcoin closed the previous session just above its monthly opening level, which currently represents the pivot. The BTC is currently below this level and the daily technical situation is negative with no signs of apparent improvement.

On a 4-hour time horizon, the technical situation is also negative but there are signs of curvatures on the WaveTrends and the CCI.

What to do about it?

Wait for a clearer situation before positioning yourself!

  • The supports of the day are at 9750$ – 9500$
  • The resistances of the day are at 10096$ – 10800$

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Ethereum

  • The upward divergence between the MACD and prices over a daily horizon is still present. The daily technical situation is still negative but less so than on the BTC.
  • Over a 4-hour time horizon, the indicators are beginning to show signs of bullish curves.

What to do about it?

As with the BTC, wait for a clarification of the situation before taking a position.

  • The supports of the day are at 180$ – 170$
  • The resistances of the day are at 194.75$ – 200$

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Conclusion

We advise you to wait for a stabilization for BTC and ETH before positioning yourself.


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See you tomorrow for a new market analysis!

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