Market Analysis of January 8, 2020

The marketcap has been moving up (+3.82%) since yesterday. The total capitalization is 219 095 510 322 USD.
Bitcoin totals 151 455 095 460 USD of capitalization for a dominance of 69.1%. Ethereum’s marketcap is 15 737 891 436 USD, followed by Ripple with 9 221 167 923 USD.

Market Sentiment

HOW TO READ THE MARKET SENTIMENT ?

Bitcoin Analysis

The BTC is now below a resistance zone between 8300 and 8500 in a daily technical context which, although positive, is beginning to show signs of weakness.
Technical indicators over a 4-hour horizon are increasingly overbought and a correction is more and more likely.

What to do about it?

Wait for a return on support before positioning yourself to buy

  • The supports of the day are at 8000$ — 7800$
  • The resistances of the day are at 8460$ — 8800$

Ethereum Analysis


ETH is also on the rise in line with Bitcoin, with a positive daily technical situation but losing speed.
What can be done?
As for the BTC, we will wait for a return to support before positioning ourselves for purchase.

  • The supports of the day are at 139$ — 135.3$
  • The resistances of the day are at 145.4$ — 148.2$

Conclusion

It is necessary to wait for a return on support before positioning.
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