Days Analysis

Market analysis of Januray 1, 2020

The marketcap has been moving down (-0.7%) since yesterday. The total capitalization is 190 245 771 145 USD.

Bitcoin totals 129 690 934 817 USD of capitalization for a dominance of 68.2%. Ethereum’s marketcap is 14 194 081 133 USD, followed by Ripple with 8 321 407 113 USD.

Bitcoin Analysis

Bitcoin has evolved negatively. It is at the same level as on 27 December, when it managed to recover. However, the volume is not following for the moment so we could see a continuation of the decline in the coming days.

The technical indicators over a 4-hour horizon are evolving in their oversold zone but could decrease further before seeing a bullish turnaround.

BTC
What to do about it?

A breach of the $7,800 would be the real bullish sign, or a rebound from the $6,500.

Ethereum Analysis

ETH

The Ethereum has returned to the $128 level and is currently trading at $129.35. If the oblique support is respected, we could therefore see its price decrease further towards $127.

Over a 4-hour horizon, the indicators evolve negatively and could decrease further.

What can we do?

See the reaction on the current configuration (see graph)

Conclusion

Patience for BTC before knowing if the zone will become support or resistance, for ETH we will wait for a return on support or a break of resistance.

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