Market Analysis of February 10, 2020

The marketcap has been moving down (-1.8%) since yesterday. The total capitalization is 282 417 221 083 USD.

Bitcoin totals 180 060 775 640 USD of capitalization for a dominance of 63.60%. Ethereum’s marketcap is 24 314 164 497 USD, followed by Ripple with 12 003 775 473 USD.

Market Sentiment

HOW TO READ THE MARKET SENTIMENT ?

Bitcoin Analysis

Bitcoin closed higher, trading around $9826 after exceeding $10,000.

The daily technical situation is positive with signs of bearish curves. The technical situation becomes negative over a short time horizon.

What to do about it?

The BTC seems to be in correction, we have to wait for a return to support or resistance to place ourselves.

  • The supports of the day are at 9 700$ — 9 050$
  • The resistances of the day are at 9 850$ — 10 222$

Ethereum Analysis

ETH closed higher but traded around $218.6 after a correction.

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

What can be done?

We can wait for a return to support or resistance before positioning ourselves.

  • The supports of the day are at 212$ — 200$
  • The resistances of the day are at 231$ — 242$

Conclusion

The daily technical situation is uncertain and a correction is possible. 

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