Market Analysis of June 03, 2020

The marketcap has been moving down (-5.26%) since yesterday. The total capitalization is 269 357 851 464 USD.

Bitcoin totals 175 032 158 008 USD of capitalization for a dominance of 65.00%. Ethereum’s marketcap is 26 394 067 103 USD, followed by Ripple with 9 193 699 346 USD.

Market Sentiment

HOW TO READ THE MARKET SENTIMENT ?

Bitcoin Analysis

After a meteoric rise and a fence above 10,000, the BTC began to move sideways and the trading volume declined.

In the previous session, the BTC fell again, just as sharply as the previous day’s rise, to stabilize around 9500.

What to do about it?

As long as the 10500s are not exceeded, we won’t be bullish but we will wait for a rebound to open a new short position.

  • The supports of the day are at 9300$ — 8600$
  • The resistances of the day are at 10000$ — 10500$

Ethereum Analysis

ETH often evolves in line with Bitcoin, and yesterday’s fall was no exception!

ETH is now around 237 but its situation is even worse than that of the BTC. Indeed ETH did not even manage, during the last bullrun, to test its level reached in mid-February around 280.

As for the BTC, we are now waiting for a rebound to short higher.

  • The supports of the day are at 230$ — 217$
  • The resistances of the day are at 253$ — 270$

Conclusion

Both BTC and ETH fail to score new highs, but we can still expect a rebound, that’s when we’ll go short on BTC and 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Your email address will not be published.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 *