Market Analysis of June 11, 2020

The marketcap has been moving up (+0.69%) since yesterday. The total capitalization is 279 104 184 988 USD.

Bitcoin totals 180 664 405 149 USD of capitalization for a dominance of 64.70%. Ethereum’s marketcap is 27 494 637 809 USD, followed by Tether with 9 206 292 534 USD.

Bitcoin Analysis

Bitcoin closed higher and is trading around 9813, still in range.

The daily technical situation is still rather negative despite a WaveTrends that does not want to cross down. In 4 hours, the situation is uncertain and it is the MACD which does not want to cross downwards while the WaveTrends is bearish.

What to do about it?

There was a possibility to short after testing the $10,000 but if you didn’t, it’s too late. We’re back in the middle of the range, where you shouldn’t trade.

Ethereum Analysis

ETH closed higher and is trading around $245.

The technical situation is rather negative with WaveTrends down and MACD about to cross lower. But the situation is positive in 4 hours.

What can we do?

Well ETH is still in the middle of the range so we still have to stay away from it.

Conclusion

The daily technical situation is rather negative for ETH and BTC.

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