Days Analysis 13

Market Analysis of January 22, 2020

The marketcap has been moving up (+0.98%) since yesterday. The total capitalization is 240 260 791 809 USD.

Bitcoin totals 157 712 498 984 USD of capitalization for a dominance of 65.6%. Ethereum’s marketcap is 18 448 230 678 USD, followed by Ripple with 10 280 175 013 USD.

Market Sentiment

HOW TO READ THE MARKET SENTIMENT ?

Bitcoin Analysis

Bitcoin closed higher and is still trading under its Weekly Open at around $8643. The supports and resistances remain the same as yesterday.

The daily technical situation is negative and remains negative under a reduced time horizon.

What to do about it?

Remain cautious and wait for a test of the Weekly or a return to support before positioning yourself.

  • The supports of the day are at 8300$ — 8000$
  • The resistances of the day are at 9050$ — 9400$

Ethereum Analysis

ETH closed higher and is above its Weekly Open. ETh is trading around $168.4.

Its daily technical situation is rather negative and remains rather negative under a reduced time horizon as well.

What to do?

As for the BTC, you have to wait for a test of the Weekly Open or a return to support and resistance before positioning yourself.

 

  • The supports of the day are at 162.25$ — 158.45$
  • The resistances of the day are at 169.4$ — 177.15$

Conclusion

Wait for a test of the Weekly Open or a test of the supports and resistances.

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