Market Analysis of July 08, 2020

The marketcap has been moving up (+1.35%) since yesterday. The total capitalization is 271 846 403 084 USD.

Bitcoin totals 170 954 002 211 USD of capitalization for a dominance of 62.8%. Ethereum’s marketcap is 26 862 554 075 USD, followed by Tether with 9 185 918 620 USD.

Market Sentiment

Bitcoin Analysis

The BTC closed lower, trading around $9279. Its dominance has decreased again but nothing new since yesterday.

The daily technical situation is positive and remains positive in 4 hours.

What to do about it?

The agenda hasn’t changed, we still have to wait for a $9500 test to launch a short.

Ethereum Analysis

ETH closed lower as well, trading around $242.

The daily technical situation is positive and remains positive in 4 hours.

What to do?

ETH is at the level of $243, reaction zone, if it passes the zone we can revisit the 253, otherwise a return to the Weekly Open would be possible.

Conclusion

The daily technical situation is positive for BTC and ETH but they are still in a range. I would recommend to take a look at the alt for the moment. 

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