Market Analysis of June 12, 2020

The marketcap has been moving down (-3.69%) since yesterday. The total capitalization is 269 035 579 060 USD.

Bitcoin totals 174 378 431 215 USD of capitalization for a dominance of 64.80%. Ethereum’s marketcap is 26 431 566 674 USD, followed by Tether with 9 204 468 817 USD.

Market Sentiment

HOW TO READ THE MARKET SENTIMENT ?

Bitcoin Analysis

Bitcoin closed lower and is trading around $9469 after testing the $9000 level.

The daily technical situation is negative and remains negative in 4 hours

What to do about it?

We are back in the middle of the range. We have to go back and wait for a better entry point. If you had entered in shorts at 10,000, congratulations on your profits!

  • The supports of the day are at 9000$ — 8600$
  • The resistances of the day are at 10000$ — 10500$

Ethereum Analysis

We are back in the middle of the range. We have to go back and wait for a better entry point. If you had entered in shorts at 10,000, congratulations on your profits!

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

Conclusion

The daily technical situation is negative for ETH and BTC.

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