Market Analysis of February 2nd

The marketcap has been Moving up (3.80%) since yesterday. The total capitalization is 1 043 587 396 824 USD.

Bitcoin totals 648 890 250 062 USD of capitalization for a dominance of 62.20%. Ethereum’s marketcap is 163 805 806 519 USD, followed by Tether with 26 791 426 468 USD.

Market Sentiment

Latest Crypto Fear & Greed Index

Bitcoin Analysis

The BTC closed higher, trading around $34800 at the time of writting these lines.

The daily technical situation is rather positive with nonetheless a MACD that hasn’t crossed upwards yet. The indicators remain rather positive in 4 hours.

What to do about it?

The BTC is struggling to overcome the mighty 35000 zone, we canno’t open a long position until that is done. Nothing to do but to wait then!

  • The supports of the day are at 28000$ — 31000$
  • The resistances of the day are at 35000$ — 38000$

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Ethereum Analysis

This is the same story for ETH, until it get above it’s ATH, we won’t open a long position on this one neither.

The daily technical situation is rather neutral and is rather positive in 4 hours.

What to do about it?

 The best thing to do is to wait for a better entry price.

  • The supports of the day are at 1250$ — 1350$
  • The resistance of the day is at 1450$

Conclusion

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


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