Days Analysis 8

Market Analysis of December 12, 2019

The marketcap has been moving down (-1.48%) since yesterday. The total capitalization is 195 185 694 246 USD.

Bitcoin totals 130 231 753 954 USD of capitalization for a dominance of 66.7%. Ethereum’s marketcap is 15 551 250 697 USD, followed by Ripple with 9 545 453 664 USD.

Market Sentiment

HOW TO READ THE MARKET SENTIMENT ?

Bitcoin Analysis

The Bitcoin closed down for the 3rd day in a row, with a doji showing market indecision and trading around $7132. There is a lack of signs of recovery in the short term.

The daily technical situation is rather negative. WaveTrends and CCI are down and MACD is flat.

Over a time horizon of 4 hours, the technical situation is negative with a WaveTrends that has just crossed downward.

 

What to do about it?

The BTC is always in the middle of the range, it is not advisable to trade in the middle of the range. We need to test the $7,100 and monitor it.

  • The supports of the day are at 7100$ — 6800$
  • The resistances of the day are at 7600$ — 7800$

Ethereum Analysis

ETH closed down for the 3rd day in a row as well and is trading at around $143.2.

The daily technical situation is rather negative but with signs of recovery.

Over a time horizon of 4 hours, the situation is negative with signs of recovery also.

What to do about it?

The support of the $143 seems to hold, we can see a downward channel coming to an end so we can expect movement. Be sure to monitor your important levels and place your stops carefully.

  • The supports of the day are at 141$ — 132$
  • The resistances of the day are at 151.7$ — 157$

Conclusion

The situation is still uncertain, but be ready and prepare several scenarios.

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