Market Analysis of February 1st

The marketcap has been Moving up (0.11%) since yesterday. The total capitalization is 1 006 658 191 890 USD.

Bitcoin totals 628 372 285 427 USD of capitalization for a dominance of 62.7%. Ethereum’s marketcap is 152 672 718 584 USD, followed by Tether with 26 608 701 981 USD.

 

Market Sentiment

Latest Crypto Fear & Greed Index

Bitcoin Analysis

The BTC closed lower at approximately $33000 and is now trading around $34200.

The daily technical situation neutral for now with a positive WaveTrend and a MACD that hasn’t crossed upwards yet. This remains the same on a 4h time horizon.

What to do about it?

For now we are stuck between a support and a resistance zone. We have to wait until one of them breaks before opening a position. 

 

  • The supports of the day are at 30000$ — 32200$
  • The resistances of the day are at 35000$ — 38000$

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Ethereum Analysis

Same story for ETH, stuck between two zones also.

The daily technical situation is negative and remains negative on a 4h timeframe.  

What to do about it?

Better to wait for a better entry point on ETH.
  • The supports of the day are at 1240$ — 1275$
  • The resistances of the day are at 1330$ — 1400$

Conclusion

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


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