Market Analysis of June 10, 2020

The marketcap has been moving up (+0.5%) since yesterday. The total capitalization is 277 192 865 692 USD.

Bitcoin totals 179 506 499 436 USD of capitalization for a dominance of 64.80%. Ethereum’s marketcap is 27 218 184 770 USD, followed by Tether with 9 208 264 289 USD.

Market Sentiment

HOW TO READ THE MARKET SENTIMENT ?

Bitcoin Analysis

Bitcoin closed lower, trading around $9712. Still nothing new for the BTC.

The daily technical situation is rather negative even though WaveTrends did not cross lower. In 4 hours, the situation is negative.

What to do about it?

Well the same thing as yesterday, be patient and wait for a better entry point.

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

Ethereum Analysis

ETH closed lower as well, trading around $243.

The daily technical situation is rather negative but the MACD has not yet crossed lower. In 4 hours the situation remains rather negative but this time it is the WaveTrends which has not yet crossed downward.

What can be done?

The market is quite flat, watch your supports and resistors and stand in case of a test of them.

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

Conclusion

The market is quite flat

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