Market Analysis of January 21st

The marketcap has been moving down (-5.15%) since yesterday. The total capitalization is 959 921 909 164 USD.

Bitcoin totals 616 738 380 953 USD of capitalization for a dominance of 64.6%. Ethereum’s marketcap is 616 738 380 953 USD, followed by Tether with 24 818 046 913 USD.

Market Sentiment

Latest Crypto Fear & Greed Index

Bitcoin Analysis

The BTC closed lower yesterday but managed to close above 35000.  Since the opening of the new session, BTC is in freefall and trade around 33000.

The daily technical situation is negative and remains negative in 4 hours.

What to do about it?

If BTC doesn’t manage to get back above 35k, we’ll look for short entry on retest.

 

  • The supports of the day are at 30000$ — 32200$
  • The resistances of the day are at 33800$ — 35000$

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Ethereum Analysis

It’s the same story for ETH, falling below 1300 with a daily and 4h negative technical situation.

What to do about it?

If ETH fail to hold above 1260, we’ll open a short position for this one as well.

 

  • The supports of the day are at 1160$ — 1250$
  • The resistances of the day are at 1350$ — 1430$

Conclusion

We have to wait for a BTC and ETH to confirm the breakout before opening a short position on retracement.

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