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Market analysis of June 27, 2019

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Marketcap

The marketcap has been moving down (-3.83%) since yesterday. The total capitalization is 351.004.266.386 USD.

Bitcoin totals 221.030.481.602 USD of capitalization for a dominance of 63%.

Ethereum’s marketcap is 34.467.379.603 USD, followed by Ripple with 18.484.987.988 USD.

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HOW TO READ THE MARKET SENTIMENT ?

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Bitcoin

After 8 sessions of increases and a high point of $13880 during yesterday’s session, the BTC is correcting today and is around $12280. The daily technical situation shows signs of correction with a MACD and a WaveTrends that show signs of curvature.

Over a time horizon of 4 hours, the technical situation is negative with a CCI and a WaveTrends that have already given a sales signal.

What to do about it?

If you are still in position, take your profits. If you are not yet in position, wait for a return on support at $12,000 before reassessing the situation.

  • The supports of the day are at 12000$ – 11500$
  • The resistances of the day are at 13000$ – 13500$

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Ethereum

The evolution of the BTC and ETH is often linked, so the daily technical situation of the Ethereum also shows signs of decline.
On a 4-hour horizon, sales signals were also given.

What to do about it?

We recommend taking a profit if you are still in position. Otherwise, we recommend waiting for a return on the $300 support before reassessing the situation.

  • The supports of the day are at 320$ – 300$
  • The resistances of the day are at 335$ – 350$

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Conclusion

BTC and ETH are in the process of being corrected, we advise you to wait for a return on the supports before positioning yourself for purchase.


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See you tomorrow for a new market analysis!

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