Market Analysis of January 30, 2020

The marketcap has been moving up (+0.07) since yesterday. The total capitalization is 256 524 068 363 USD.

Bitcoin totals 170 080 521 147 USD of capitalization for a dominance of 66.2%. Ethereum’s marketcap is 19 303 437 773 USD, followed by Ripple with 10 306 987 871 USD.

Market Sentiment

HOW TO READ THE MARKET SENTIMENT ?

Bitcoin Analysis

Bitcoin closed lower, trading around $9335. Resistances and supports remain in place. BTC has rebounded on the $9200 area which is a new area to watch.

The daily technical situation is still positive but becomes negative over a 4 hour time horizon.

What to do about it?

The BTC is consolidating, keep your eyes on the $9200 zone.

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

Ethereum Analysis

ETH closed lower after several bullish days and is trading around $174.8.

The daily technical situation is positive but not over a short time horizon.

What can be done?

As usual, the prudent trader will wait for a return to support or resistance.

  • The supports of the day are at 173$ — 169$
  • The resistances of the day are at 179$ — 189$

Conclusion

The daily technical situation is positive for BTC and ETH

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