Market Analysis of June 15, 2020

The marketcap has been moving down (-4.34%) since yesterday. The total capitalization is 256 637 902 226 USD.

Bitcoin totals 167 116 057 180 USD of capitalization for a dominance of 65.10%. Ethereum’s marketcap is 24 953 048 284 USD, followed by Tether with 9 192 960 986 USD.

Market Sentiment

HOW TO READ THE MARKET SENTIMENT ?

Bitcoin Analysis

Bitcoin closed lower and continues to drop today to trade around $9100 below its Monthly Open and Weekly Open.

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

What to do about it?

We are just below the $9000 resistance, if it doesn’t hold we can hope for a test of the $8600 which would be a good opportunity for a long one. If the resistance holds we can hope to test the Monthly Open.

  • The supports of the day are at 9000$ — 8600$
  • The resistances of the day are at 9400$ — 10000$

Ethereum Analysis

ETH closed lower as well, trading around $223 after rebounding to $218.

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

So what can we do?

If we don’t break the 217 it is quite possible to see the $230 which would be a good entry for a short!

  • The supports of the day are at 217$ — 196$
  • The resistances of the day are at 230$ — 250$

Conclusion

The daily technical situation is negative for ETH and BTC.

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