Market Analysis of June 09, 2020

The marketcap has been moving up (+0.14%) since yesterday. The total capitalization is 275 821 104 778 USD.

Bitcoin totals 178 509 242 123 USD of capitalization for a dominance of 64.70%. Ethereum’s marketcap is 27 190 714 876 USD, followed by Tether with 9 214 372 373 USD.

Bitcoin Analysis

Bitcoin closed higher, dropping slightly today to trade around $9684. The volume is decreasing but the dominance is not changing.

The daily technical situation is rather negative despite the fact that WaveTrends is still on the rise but close to crossing on the downside. In 4 hours, the situation is negative.

What to do about it?

Stay away from the BTC as long as it is in the middle of this range. A short in the event of a $10,000 test remains the best solution for now, so be patient!

Ethereum Analysis

ETH closed higher and is trading around $243 for the moment. There isn’t much new for ETH as well.

The daily technical situation is rather negative despite a still positive MACD on the verge of crossing lower. In 4 hours the situation is negative but the WaveTrends is making a series of crosses.

What can be done?

The situation remains rather uncertain and ETH is in the middle of the range. So stay away from this one too and be patient too. 

Conclusion

The daily technical situation is  rather negative for ETH and BTC but the market is flat. 

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