Market Analysis of June 22, 2020

The marketcap has been moving up (+0.39%) since yesterday. The total capitalization is 267 766 896 593 USD.

Bitcoin totals 173 147 481 182 USD of capitalization for a dominance of 64.6%. Ethereum’s marketcap is 26 204 344 121 USD, followed by Tether with 9 195 290 762 USD.

Market Sentiment

HOW TO READ THE MARKET SENTIMENT ?

Bitcoin Analysis

The BTC closed lower but is trading around $9420. It is still trading in a range and without much movement. Its dominance has fallen back below 65%.

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

What to do about it?

If the BTC manages to pass the Monthly Open we can still hope to see the 9800$ which would still be a good entry point for shorts.

  • The supports of the day are at 9280$ — 9000$
  • The resistances of the day are at 9450$ — 9800$

Ethereum Analysis

ETH closed lower in doji indicating market indecision and is trading higher today at around $235.

The daily technical situation is negative with signs of recovery for WaveTrends but is positive in 4 hours.

What to do?

The situation is still uncertain and ETH is still moving in range. If we go over $238 we can hope for a $250 test.

  • The supports of the day are at 228$ — 217$
  • The resistances of the day are at 253$ — 270$

Conclusion

The daily technical situation is still negative for ETH and BTC but quite uncertain.

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