Market Analysis of January 24, 2020

The marketcap has been moving down (-3.07) since yesterday. The total capitalization is 228 380 252 787 USD.

Bitcoin totals 151 584 108 067 USD of capitalization for a dominance of 66.4%. Ethereum’s marketcap is 17 409 919 341 USD, followed by Ripple with 9 625 493 213 USD.

Market Sentiment

HOW TO READ THE MARKET SENTIMENT ?

Bitcoin Analysis

Bitcoin closed lower, trading at around $8,259.

The technical situation is negative and remains negative over a shorter time horizon.

 

What to do about it?

Bitcoin could fall as low as $8000 or could rise as high as $8600. We need to see if the $8,200 support holds.

  • The supports of the day are at 8200$ — 8000$
  • The resistances of the day are at 8700$ — 9050$

Ethereum Analysis

ETH closed lower, trading around $157.

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

What can be done?

We must wait for a return to support or resistance before positioning ourselves.

  • The supports of the day are at 155$ — 147$
  • The resistances of the day are at 163$ — 169$

Conclusion

Wait for a return on support or resistance.

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