Market Analysis of July 20, 2020

The marketcap has been moving up (+0.41%) since yesterday. The total capitalization is 272 781 118 688 USD.

Bitcoin totals 168 954 454 690 USD of capitalization for a dominance of 61.9%. Ethereum’s marketcap is 26 652 418 275 USD, followed by Tether with 9 163 438 286 USD.

Market Sentiment

HOW TO READ THE MARKET SENTIMENT ?

Bitcoin Analysis

The BTC closed higher and is now trading around $9188. What happened this week? Well like last week, not much! The BTC is contracting and still doesn’t offer us a good opportunity to send a trade.

The daily technical situation is positive, MACD and WaveTrends have just crossed higher. And the situation remains positive in 4 hours.

What to do about it?

Still not much, the BTC is in the middle of the range and we would first need a support or resistance test to have a better entry point.

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

Ethereum Analysis

ETH closed higher and is trading around $239 after rebounding to $228, ETH can’t get above $240.

The daily technical situation is rather positive, WaveTrends has crossed higher but not yet the MACD. In 4 hours the situation is very positive.

What can we do about it?

As ETH has not been able to exceed $240, a return to the $230-$228 level is likely, which would give us a nice little short.

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

Conclusion

The daily technical situation is positive for ETH and BTC, don’t touch BTC yet but you can short ETH. 

You can join us on Telegram for a follow-up of the market throughout the day.

For any question, our team will be happy to answer you on our support which is open 7/7 days.

For any information about our subscriptions, please visit our website or contact @butler_4c_bot directly to get all the information you need.


Butler Bot


VIP Plans


Dashboard

Leave a Comment

Your email address will not be published. Required fields are marked *