Days Analysis 6

Market Analysis of January 13, 2020

The marketcap has been moving down (-0.39%) since yesterday. The total capitalization is 216 831 204 814 USD.

Bitcoin totals 147 744 971 032 USD of capitalization for a dominance of 68.1%. Ethereum’s marketcap is 15 733 542 196 USD, followed by Ripple with 9 244 938 845 USD.

Market Sentiment

HOW TO READ THE MARKET SENTIMENT ?

Bitcoin Analysis

After trying to break the 8200 level for the past few seasons, the BTC has been falling since the beginning of this session and is currently trading around 8100.

The daily technical situation seems to be ready to cross on the downside while the indicators on a 4 hour horizon are already negative while on a 1 hour horizon, a rise seems possible.

What to do about it?

For the risk-lover among you, you can try to short the 8200 while the 7600 zone will be preferred to initiate a long position.

  • The supports of the day are at 7600$ — 7400$
  • The resistances of the day are at 8200$ — 8500$

Ethereum Analysis

Same bell for ETH with a technical situation 4h and daily which indicates a probable drop while on a horizon of 1h, the possibility of a rebound towards 145 is possible.

What to do?

Wait for a return on support for the entry in long position. For a short position, 145 is a good entry point.

  • The supports of the day are at 135.3$ — 132.2$
  • The resistances of the day are at 145$ — 146.9$

Conclusion

It is necessary to wait for a return on support before positioning oneself. at the time of purchase. Short to short term position possible on pullback.

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