Market Analysis of July 10, 2020

The marketcap has been moving up (-2.3%) since yesterday. The total capitalization is 269 271 660 397 USD.

Bitcoin totals 169 167 044 427 USD of capitalization for a dominance of 62.8%. Ethereum’s marketcap is 26 691 159 115 USD, followed by Tether with 9 200 312 177 USD.

Market Sentiment

Bitcoin Analysis

The BTC closed lower, trading around $9182. After dropping to $10 near our entry on bitmex, the BTC has fallen, cancelling for the moment the expected 9500$ short.

The daily technical situation is positive but becomes negative in 4 hours.

What to do about it?

It’s the return of market indecision, the $9250 zone seems to have become a resistance and the Monthly Open a support but we would need a test to confirm it.

Ethereum Analysis

ETH closed lower as well after almost hitting $250 and is already around $238, below the $243 zone.

The daily technical situation is positive but with signs of bearish curves. In 4 hours the situation becomes negative.

What to do?

The situation is quite uncertain as for the BTC. We have to wait for a support or resistance test and position ourselves according to the reaction.

Conclusion

The daily technical situation is quite uncertain for BTC and ETH.

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