Market Analysis of December 11th 2020

The marketcap has been Moving down (-3.57%) since yesterday. The total capitalization is 527 262 520 049 USD.

Bitcoin totals 331 689 460 474 USD of capitalization for a dominance of 66.20%. Ethereum’s marketcap is 61 885 001 027 USD, followed by Ripple with 25 107 774 599 USD.

 

Market Sentiment

Latest Crypto Fear & Greed Index

Bitcoin Analysis

The BTC closed lower, trading around $17800

The daily technical situation is negative and remains negative in 4 hours.

What to do about it?

 

If you did not manage to get in the short at 18600, then we now have to wait for another zone to be broken before adding to our position. We’ll wait for a close below 17600 to look for another short entry.

  • The supports of the day are at 17600$ — 17800$
  • The resistances of the day are at 18000$ — 18400$

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Ethereum Analysis

 

Just like BTC, ETH is going down today and trade currently around 540.

The daily and 4h technical situation is negative also.

What to do about it?

Just like BTC, we have to wait for the next support zone to be broken or a level to be gained before entering a new position. 

  • The supports of the day are at 520$ — 540$
  • The resistances of the day are at 550$ — 560$

Conclusion

We have to wait for a better entry point for ETH and BTC.


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