Days Analysis 4

Market Analysis of December 6, 2019

The marketcap has been moving up (+0.80%) since yesterday. The total capitalization is 200 443 238 981 USD.

Bitcoin totals 133 792 371 884 USD of capitalization for a dominance of 66.8%. Ethereum’s marketcap is 16 129 854 095 USD, followed by Ripple with  9 587 430 494 USD.

Market Sentiment

HOW TO READ THE MARKET SENTIMENT ?

Bitcoin Analysis

The Bitcoin closed higher during the previous session and briefly passed above its weekly open but failed to break it at the end.

This level, around 7400$, is still used as resistance at the moment and will have to be passed for a 7800$ test to be possible.

The daily technical situation is still positive despite rather flat indicators.

 

What to do about it?

If you are not in position, wait for a break and retest for $7800 before proceeding with the purchase.

  • The supports of the day are at 7100$ — 6800$
  • The resistances of the day are at 7400$ — 7800$

Ethereum Analysis

Same configuration for ETH, with a higher low, which can mean the beginning of a reversal.

The technical situation here too is rather positive, although flat.

What to do about it?

If you are not in position, we recommend waiting for a break and a retest of the area between $151.05 and $151.5 before proceeding with the purchase.

 

  • The supports of the day are at 143$ — 140$
  • The resistances of the day are at 151$ — 157$

Conclusion

BTC and ETH under resistance, it is preferable to wait for a break and a retest of the latter before positioning yourself for the purchase

 

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