2 6 1

Market Analysis of August 28, 2019

[vc_row][vc_column][vc_column_text]

Marketcap

The marketcap has been moving up (-0.19%) since yesterday. The total capitalization is 264 002 985 965 USD.

Bitcoin totals 181 966 294 299 USD of capitalization for a dominance of 68.90%.

Ethereum’s marketcap is 20 048 392 201 USD, followed by Ripple with 11 432 358 080 USD.

[/vc_column_text][vc_empty_space][vc_single_image image=”2726″ img_size=”full” alignment=”center” title=”Market sentiment”][vc_column_text]

HOW TO READ THE MARKET SENTIMENT ?

[/vc_column_text][vc_empty_space][vc_separator][vc_empty_space][vc_column_text]

Bitcoin

The technical situation of Bitcoin remains negative on a daily basis with no sign of a bullish reversal for the moment. However, the BTC is able to maintain itself above its monthly opening level at the time of writing.

 
On a shorter horizon, in 4 hours, the technical situation remains negative but with visible signs of a bullish reversal on the CCI and WaveTrends.

What to do about it?

We recommend waiting for the bevelled compression figure to exit before positioning yourself.

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

[/vc_column_text][vc_empty_space][vc_separator][vc_empty_space][vc_column_text]

Ethereum

The technical situation of the Ethereum on a daily horizon is similar to that of the BTC, negative without signs of reversal for the moment.
Over a 4-hour horizon, the technical indicators show signs of a potential reversal.

What to do about it?

Like the BTC, the Ethereum is currently in a bevelled configuration, so we recommend waiting for this figure to exit before opening any position.

  • The supports of the day are at 185$ – 180$
  • The resistances of the day are at 194.75$ – 200$

[/vc_column_text][vc_empty_space][vc_separator][vc_empty_space][vc_column_text]

Conclusion

We advise you to wait for a bevel break for BTC and ETH before positioning yourself.
Note: breaks must be accompanied by a high volume, otherwise it could indicate false breaks whose sole purpose is to trap traders!


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.

For any information about our subscriptions, please visit our website or contact @butler_4c_bot directly to get all the information you need.

See you tomorrow for a new market analysis!

[/vc_column_text][/vc_column][/vc_row]

Subscribe to our newsletter and receive 10 Free Crypto Tutorials over 10 weeks!

Your personal data will be used to support your experience throughout this website, to manage access to your account, and for other purposes described in our privacy policy.