The marketcap has been moving up (+0.69%) since yesterday. The total capitalization is 246 467 701 686 USD.
Bitcoin totals 170 152 067 333 USD of capitalization for a dominance of 69.00%
Ethereum’s marketcap is 18 106 928 070 USD, followed by Ripple with 10 927 952 421 USD.
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For Bitcoin, the market is consolidating. The decline for the time being cannot be considered as over. We need more signs of consolidation.
On the graph, we can see that we are still in a large downward channel. The Bitcoin stopped its fall on the support area announced yesterday (light blue rectangle).
What happens next?
A fall to $9250 is quite possible. In case of breakage of the latter with large volume, the $8500 will not take you long to arrive. A rise to $10080, could take place but as a re-test of an old support that has now become resistance.
- The supports of the day are at 9250$ – 9060$
- The resistances of the day are at 9350$ – 10088$
Ethereum follows the Bitcoin down the slope, it is in a downhill bevel configuration. The resistance of this bevel will therefore be carefully monitored.
In case of breakage, the $188 then the $195 are targets to keep in mind. If the buying force does not show up, we could reach $160 which is an area of great support.
A bounce on top with a broken down bevel is a scenario to be anticipated. In the event of a new market dump, it is the 141.35 that will save the day.
- The supports of the day are at 160$ – 141.35$
- The resistances of the day are at 188$ – 195$
Bitcoin: wait for a stabilization, potential re-test on the $10000 zone to play. In case of lack of buying power, the 9060 shorts are preferred as an objective.
Ethereum: breakage of the descending bevel to play. A rebound on the $160 area then upward break is a possible scenario.
Note: don’t forget your stop-loss, the market is still looking for each other, the stabilization is not over!
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