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Market Analysis of August 30, 2019



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.

Market Analysis of August 30, 2019 - 4C Trading

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$



Market Analysis of August 30, 2019 - 4C Trading

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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