Market analysis of January 29th

The marketcap has been Moving up (3.28%) since yesterday. The total capitalization is 955 849 125 426 USD.

Bitcoin totals 599 803 953 735 USD of capitalization for a dominance of 62.6%. Ethereum’s marketcap is 148 844 545 698 USD, followed by Tether with 25 388 736 455 USD.

Market Sentiment

Latest Crypto Fear & Greed Index

Bitcoin Analysis

The BTC closed higher, trading around $32500.

The daily technical situation is still rather negative but we can spot some sign of reversal. On 4h, the indicators are positive.

What to do about it?

 

The As long as BTC trade below 35k, we wont open a long position. Best thing to do is to wait for more price action development for now.

  • The supports of the day are at 28000$ — 30000$
  • The resistances of the day are at 35000$ — 38000$

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Ethereum Analysis

The Same story for ETH, closed higher yesterday at 1330. ETH is falling a bit behind BTC today and the technical situation is overall negative.

What to do about it?

 

The same as for BTC, no need to rush we want to see some more development before commiting a long position.

  • The supports of the day are at 1240$ — 1300$
  • The resistances of the day are at 1360$ — 1400$

Conclusion

We have to wait for a better entry point for ETH and BTC.


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