Market Analysis of January 29, 2020

The marketcap has been moving up (+3.61%) since yesterday. The total capitalization is 256 524 068 363 USD.

Bitcoin totals 169 962 374 630 USD of capitalization for a dominance of 66.3%. Ethereum’s marketcap is 19 429 302 369 USD, followed by Ripple with 10 417 637 695 USD.

Market Sentiment

HOW TO READ THE MARKET SENTIMENT ?

Bitcoin Analysis

Bitcoin closed higher and is trading at around $9300. The $9,200 has gone from resistance to support, but will it hold?

The daily technical situation is still positive but shows signs of reversal over a reduced time horizon.

What to do about it?

A correction is possible, with a test of the 9200$.

  • The supports of the day are at 9200$ — 9050$
  • The resistances of the day are at 9500$ — 10000$

Ethereum Analysis

ETH closed higher and is now trading around $176.85, moving away from its Weekly Open.

The daily technical situation is positive and remains positive over a short time horizon.

What can be done?

Wait for a return to support or resistance.

  • The supports of the day are at 174$ — 169$
  • The resistances of the day are at 179$ — 189$

Conclusion

The daily technical situation for ETH and BTC is positive

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