The marketcap has been moving up (+3.16%) since yesterday. The total capitalization is 331.813.936.116 USD.
Bitcoin totals 208.560.196.209 USD of capitalization for a dominance of 62.8%.
Ethereum’s marketcap is 31.674.542.700 USD, followed by Ripple with 17.042.051.223 USD.
[/vc_column_text][vc_empty_space][vc_single_image image=”2144″ img_size=”full” alignment=”center” title=”Market sentiment”][vc_column_text]
BTC closed around $12,000 in the previous session and is currently trading around $11,725. We could see signs of curvature on the technical indicators yesterday, this seems to be confirmed today. Indeed, the MACD and WaveTrends seem ready to cross over again in the daily horizon.
Over a 4-hour horizon, the technical situation shows risks of a slight correction.
What to do about it?
Bitcoin is under resistance, so we recommend that you take some of your profits and place your stop-loss above your entry price for the rest of your position. If you are not yet in position, wait for a clear break of the $12,000 level
- The supports of the day are at 11500$ – 10900$
- The resistances of the day are at 12000$ – 12200$
Ethereum closed above the $300 level in the previous session and is currently trading around $295. ETH’s daily technical situation is slightly less positive than that of the BTC and a larger retracement cannot therefore be excluded for ETH.
Over a 4-hour horizon, this is also confirmed with signs of visible curvatures on the 3 indicators.
What to do about it?
Wait for a resistance break at $300 or a return to the support at $280 before reassessing the situation. If you are already in a position, take some of your profits and protect the rest of your position with a stop-loss above your purchase price.
- The supports of the day are at 280$ – 262$
- The resistances of the day are at 300$ – 320$
BTC and ETH are in a range between their support and their resistance.
BTC: We advise you to wait for a $12,000 break before positioning yourself
ETH: We advise you to wait for a $300 break or a $280 return before reassessing the situation.
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.
See you tomorrow for a new market analysis!