Market Analysis of December 16th

The marketcap has been Moving up (1.66%) since yesterday. The total capitalization is 573 676 865 024 USD.

Bitcoin totals 368 170 277 395 USD of capitalization for a dominance of 64.1%. Ethereum’s marketcap is 67 746 679 998 USD, followed by Ripple with 20 844 099 802 USD.

Market Sentiment

Latest Crypto Fear & Greed Index

Bitcoin Analysis

The BTC closed higher and is currently trading around $19800, slowly approaching the 20k.

The daily technical situation is rather neutral – positive and remains positive in 4 hours.

What to do about it?

BTC just broke it’s main resistance of 20k, we’ll have to wait for the price to settle before opening any swing position. The best thing to do is to wait for a better entry point.

  • The supports of the day are at 19500$ — 20000$ 

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Ethereum Analysis

The same goes for ETH, which is also on the rise as it slowly approaches $625.

 

What to do about it?

 

We’ll have to wait for ETH to settled after this breakout.

  • The supports of the day are at 620$ — 600$
  • The resistances of the day are at 660$ — 700$

Conclusion

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


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