Days Analysis 7

Market Analysis of January 14, 2020

The marketcap has been moving up (+4.46%) since yesterday. The total capitalization is 228 022 210 610 USD.

Bitcoin totals 154 332 747 652 USD of capitalization for a dominance of 68.1%. Ethereum’s marketcap is 16 285 668 695 USD, followed by Ripple with  9 448 860 239 USD.

Market Sentiment

HOW TO READ THE MARKET SENTIMENT ?

Bitcoin Analysis

After trading below 8200 for most of the previous session, the BTC has finally broken this level and is currently trading around 8500.

The 4-hour and daily technical situation is positive while the 1-hour technical indicators are showing signs of possible decline.

What to do about it?

A return to the 8200 – 8300 is therefore not impossible and will be an excellent entry point if the rebound is confirmed.

  • The supports of the day are at 8200$ — 8000$
  • The resistances of the day are at 8600$ — 8800$

Ethereum Analysis

Same thing for ETH which evolves around 150 in a positive technical context in 4 hours and daily. The technical situation in 1 hour is already negative which does not exclude a return to the level of 146.8 or even 145.

We will therefore wait for this level before initiating a long position.

  • The supports of the day are at 149.9$ — 145$
  • The resistances of the day are at 152.4$ — 145.1$

Conclusion

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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