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Market Analysis of August 26, 2019

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Marketcap

The marketcap has been moving up (+1.98%) since yesterday. The total capitalization is 26.9 91.1 87.0 60 USD.
Bitcoin totals 185 .840 .248. 780 USD of capitalization for a dominance of 68.90%.
Ethereum’s marketcap is 20 .517 .052 .130 USD, followed by Ripple with 11 .694 .143. 670 USD.[/vc_column_text][vc_empty_space][vc_single_image image=”2703″ img_size=”full” alignment=”center” title=”Market sentiment”][vc_column_text]

HOW TO READ THE MARKET SENTIMENT ?

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Bitcoin

The Bitcoin has been evolving for several sessions around its monthly opening level and started this week with a high point at $10,650.

 
The daily technical situation is starting to show positive signs with a WaveTrends that has crossed the upside like the CCI. The MACD has still not crossed but shows signs of bullish curvature.
The technical situation over a 4-hour horizon is positive with purchase signals given on all indicators.

What to do about it?

If you are in position, place your stop-loss above your purchase price. If you are not yet in position, wait for a confirmed break in the $10400$-10500 zone or a return on support before positioning yourself.

  • The supports of the day are at 10096$ – 9800$
  • The resistances of the day are at 10400$ – 10800$

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Ethereum

ETH’s daily technical situation is quite similar to Bitcoin with purchase signals on the CCI and WaveTrends and a MACD that is about to cross.
On a 4-hour horizon, the technical situation is also positive.

What to do about it?

If you are in position, place your stop-loss above your purchase price, otherwise wait for a break of the $200 level or a return on support before positioning yourself.

  • The supports of the day are at 190$ – 180$
  • The resistances of the day are at 194.75$ – 200$

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Conclusion

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


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See you tomorrow for a new market analysis!

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