Market Analysis of February 03, 2020

The marketcap has been moving down (-0.82%) since yesterday. The total capitalization is 258 737 791870 USD.

Bitcoin totals 170 343 167 582 USD of capitalization for a dominance of 65.3%. Ethereum’s marketcap is 20 773 492 727 USD, followed by Ripple with 11 024 430 975 USD.

Market Sentiment

HOW TO READ THE MARKET SENTIMENT ?

Bitcoin Analysis

Bitcoin closed lower and is trading around $9300. The supports and resistances are still in place.

The daily technical situation is rather negative and remains negative over a short time horizon.

What to do about it?

We are in the middle of the range, we have to wait for a test of the support or resistance before positioning ourselves.

  • The supports of the day are at 9200$ — 9050$
  • The resistances of the day are at 9500$ — 10000$

Ethereum Analysis

ETH closed higher than the BTC and is trading around $188.

The daily technical situation is rather positive but signs of a bearish curve are starting to appear. Over a 4-hour time horizon, the technical situation is quite negative.

What to do?

Wait for a return on support or resistance before positioning yourself.

 

  • The supports of the day are at 187$ — 179$
  • The resistances of the day are at 193$ — 196$

Conclusion

It is necessary to wait for a return on support and resistance

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