Days Analysis 11

Market Analysis of December 17, 2019

The marketcap has been moving down (-3.48%) since yesterday. The total capitalization is 186 649 681 676 USD.

Bitcoin totals 125 445 118 403 USD of capitalization for a dominance of 67.2%. Ethereum’s marketcap is 14 437 456 591 USD, followed by Ripple with  8 571 778 944 USD.

Market Sentiment

HOW TO READ THE MARKET SENTIMENT ?

Bitcoin Analysis

The BTC closed lower and is trading at around $6874. A rebound took place at the 6800$ that we use for the moment as support.

The daily technical situation is rather negative despite a CCI showing a recovery.

Over a time horizon of 4 hours, the technical situation remains negative but the indicators show signs of recovery.

 

What to do about it?

We have to see if the new support holds, if it doesn’t hold, we can expect a 6500$ test. A 7100$ test is also possible. 

  • The supports of the day are at 6800$ — 6500$
  • The resistances of the day are at 7100$ — 7600$

Ethereum Analysis

ETH closed with a bearish movement like the BTC and is trading around $131.4.

The daily technical situation is negative despite a recovering CCI.

Over a time horizon of 4 hours, the technical situation remains negative but we can see signs of recovery.

What to do about it?

We have to see if the $131 level has become our new support.

  • The supports of the day are at 131$ — 127$
  • The resistances of the day are at 140$ — 151$

Conclusion

A test of the new supports / resistances would confirm these new levels.

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