Market Analysis of June 18, 2020

The marketcap has been moving down (-0.67%) since yesterday. The total capitalization is 267 601 264 814 USD.

Bitcoin totals 173 755 491 028 USD of capitalization for a dominance of 64.9%. Ethereum’s marketcap is 26 027 555 464 USD, followed by Tether with 9 190 369 990 USD.

Market Sentiment

HOW TO READ THE MARKET SENTIMENT ?

Bitcoin Analysis

Bitcoin closed lower and is trading around $9430 below its Monthly Open. There is still no trend, Bitcoin is moving in a row.

The daily technical situation is negative but remains positive in 4 hours.

What to do about it?

After testing the 9600 as  we told yesterday, we  went down to the 9200 and then back up to the 9400. The $9800-9900 is still the best entry point for shorts.

  • The supports of the day are at 9400$ — 9000$
  • The resistances of the day are at 10000$ — 10500$

Ethereum Analysis

ETH closed lower as well and is trading around $233, still above $230.

The daily technical situation is negative but still remains positive in 4 hours.

What can I do?

We still have to be patient and wait for a better point of entry. The situation is uncertain today.

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

Conclusion

The daily technical situation is still negative for ETH and BTC but bullish on the short term

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