The marketcap has been moving down (-2.19%) since yesterday. The total capitalization is 276 237 298 831 USD.
Bitcoin totals 174 818 984 044 USD of capitalization for a dominance of 63.3%. Ethereum’s marketcap is 28 560 296 215 USD, followed by Ripple with 11 659 034 882 USD.
Market Sentiment
HOW TO READ THE MARKET SENTIMENT ?
Bitcoin Analysis
Bitcoin closed lower following the rejection at the level of its previous Weekly Open and is trading around $9595. The $9500 support still seems to be holding, so supports and resistances remain unchanged.
The daily technical situation remains unchanged and is still negative. It remains negative under a time horizon of 4 hours.
What to do about it?
Following the rebound on the 9500$ support, we can expect a test of the new Weekly Open at around 9966$, if it confirms its role of resistance, a short could be launched.
- The supports of the day are at 9500$ — 9300$
- The resistances of the day are at 10000$ — 10500$
Ethereum Analysis
ETH closed lower and follows the trend of the BTC, trading around $259. One can notice the formation of a continuation triangle.
The daily technical situation is negative and the rest of the day is under a 4 hour time horizon.
What can be done?
We can hope for a return on the resistance of the triangle and see if it still holds.
- The supports of the day are at 250$ — 228$
- The resistances of the day are at 288$ — 321$
Conclusion
The daily technical situation is still negative for ETH and BTC.
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