Market Analysis of June 24, 2020

The marketcap has been moving down (-0.36%) since yesterday. The total capitalization is 271 781 556 750 USD.

Bitcoin totals 175 505 279 683 USD of capitalization for a dominance of 64.6%. Ethereum’s marketcap is 27 075 270 049 USD, followed by Tether with 9 198 389 874 USD.

Market Sentiment

HOW TO READ THE MARKET SENTIMENT ?

Bitcoin Analysis

The BTC closed lower and continues its descent today to trade around $9380.We’ve gone below the $9450 resistance level but not below its Weekly.

The daily technical situation is uncertain but with bullish signs.In 4 hours, the situation is negative.

What to do about it?

As long as we are below $9285 we can’t yet consider a return to a bearish trend. The BTC has returned to the middle of the range and is therefore difficult to trade.

  • The supports of the day are at 9250$ — 9400$
  • The resistances of the day are at 9800$ — 10000$

Ethereum Analysis

ETH closed higher in a doji shape indicating the market’s indecision and is now trading lower after trading close to the $250 mark.

The daily technical situation is rather positive with a WaveTrends which has just crossed higher. In 4 hours the situation is also negative.

What to do?

As long as we stay above $238, we can always hope to see the $250 again. Which could be an entry point for shorts.

  • 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 quite uncertain. 

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