Market Analysis of June 23, 2020

The marketcap has been moving up (+1.87%) since yesterday. The total capitalization is 272 766 638 288 USD.

Bitcoin totals 176 557 540 009 USD of capitalization for a dominance of 64.7%. Ethereum’s marketcap is 26 934 471 798 USD, followed by Tether with 9 187 784 980 USD.

Bitcoin Analysis

The BTC closed higher to 9780 but did not reach 9800 and is trading around 96010$. Its dominance remains below 65%.

The daily technical situation is uncertain, indeed the MACD is still bearish but the WaveTrends has just crossed higher. In 4 hours, the situation remains positive.

What to do about it?

Well the short around 9800 remains valid, we must wait for a retest of this zone and hope to touch it this time, be careful with your Stop Loss and manage your risk well.

Ethereum Analysis

ETH closed higher and is trading around $243, it hasn’t yet hit $250 as announced yesterday but it is still likely to do so.

The daily technical situation is rather positive and remains positive in 4 hours.

What to do?

As long as ETH remains above 238, we can expect to test the $250.

Conclusion

The daily technical situation is uncertain for ETH and BTC. 

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