Market Analysis of July 15, 2020

The marketcap has been moving up (+0.31%) since yesterday. The total capitalization is 271 854 525 547 USD.

Bitcoin totals 169 675 530 132 USD of capitalization for a dominance of 62.4%. Ethereum’s marketcap is 26 724 334 832 USD, followed by Tether with 9 187 266 438 USD.

Market Sentiment

HOW TO READ THE MARKET SENTIMENT ?

Bitcoin Analysis

The BTC closed higher with a hammer-shaped candle and is trading around $9216. We are still in the range with low dominance and low volume.

The daily technical situation is rather negative and quite negative in 4 hours.

What to do about it?

We still have to be patient, yesterday’s candle fence does not offer us a good entry point to throw a long or a short.

  • The supports of the day are at 9000$ — 8600$
  • The resistances of the day are at 9450$ — 9800$

Ethereum Analysis

ETH closed higher with a candle pointing to market indecision and is trading around $238.

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

What to do?

As with the BTC, we must wait for a better entry point or a support or resistance test

  • The supports of the day are at 228$ — 217$
  • The resistances of the day are at 253$ — 270$

Conclusion

The daily technical situation is still negative for ETH and BTC.

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