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Market Analysis of July 22, 2019

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Marketcap

The marketcap has been moving down (-0.51%) since yesterday. The total capitalization is 290 .251 .810. 481 USD.

Bitcoin totals 189  085  433  889 USD of capitalization for a dominance of 65.10%.

Ethereum’s marketcap is 24  107  207  877 USD, followed by Ripple with 14  109  764  27 USD.

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HOW TO READ THE MARKET SENTIMENT ?

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Bitcoin

In recent days, we have seen the BTC rise to the $11k level by reaching a high point of $11120 and then drop very quickly to a low of $10325. Currently, the BTC price is $10614.

The BTC evolves between two important zones with a support at 10400$ and a resistance at 10700$. A real break in one of these areas will give us a better idea of the possible evolution of the BTC.

What to do about it?

We are waiting, nothing more to do at the moment unless you are really a risk lover. If the BTC does indeed turn around, the $9400 level will then be a critical area of importance that we will closely monitor.

  • The supports of the day are at 10400$ – 10000$
  • The resistances of the day are at 10700$ – 11200$

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Ethereum

As often on this market, the situation of the Ethereum is similar to that of the Bitcoin, so it evolves in a range with a support at 220$ and a resistance at 235$. Currently, the price of ETH is $225.30.
The important levels to monitor for ETH are $250 and $200. Without breaking these levels, it is difficult to say in which direction ETH will go for the time being.

What to do about it?

Be patient, a slight correction is possible in the short term and will provide us with a better entry point.

  • The supports of the day are at 220$ – 200$
  • The resistances of the day are at 235$ – 250$

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Conclusion

BTC and ETH operate in one channel.
What to do about it?
We recommend to wait for a break up or down of the channel in which they operate.


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See you tomorrow for a new market analysis!

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