The marketcap has been moving down (-1.99%) since yesterday. The total capitalization is 206 010 276 137 USD.
Bitcoin totals 141 183 788 815 USD of capitalization for a dominance of 68.5%. Ethereum’s marketcap is 14 965 670 622 USD, followed by Ripple with 8 799 033 629 USD.
After reaching a high point around 8500 the BTC then traced back to the 7800 and bounced back to the 8000.
Bitcoin is currently trading around 7700 and the next interesting support zone is at 7600.
Technical indicators are negative in 4 hours and seem to be on the verge of crossing lower on the daily horizon.
What to do about it?
For a long position, we will wait for a return to support at 7600 with a quick gain. The zone around 7750 will be a good short zone if the daily technical situation allows it.
- The supports of the day are at 7600$ — 7400$
- The resistances of the day are at 7800$ — 8000$
The same goes for ETH even if the technical situation 4h of the latter seems better than for the BTC.
Indeed, even if the latter are trending downwards, they are showing signs of bullish curvature.
As for the daily technical situation, it goes negative with a sales signal on the WaveTrends indicator.
What can be done?
If the BTC falls, the ETH is likely to reach the 132.20 level which will be an interesting entry point for a long position.
- The supports of the day are at 135.3$ — 132.2$
- The resistances of the day are at 139.1$ — 145.4$
It is necessary to wait for a return on support before positioning. at the purchase. Short to short term position possible on pullback.
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