The marketcap has been moving down (-5.35%) since yesterday. The total capitalization is 322.214.171.1242 USD.
Bitcoin totals 206.989.456.714 USD of capitalization for a dominance of 62.30%.
Ethereum’s marketcap is 32.564.004.036 USD, followed by Ripple with 17.738.452.758 USD.
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After the 8 consecutive sessions of increase, the BTC corrected during the previous session by scoring a low point at $10,300 before closing at $11,053. Currently at $11860, the daily technical situation remains negative with a sales signal given by WaveTrends and CCI.
On a 4-hour horizon, however, the technical situation is much better with signs of imminent bullish crossings on the MACD and WaveTrends.
What to do about it?
If you are in position, place your stop-loss above your purchase price. If you are not yet in position, wait for a $12,000 break or a return to the $1,100 support before reassessing the situation.
- The supports of the day are at 11200$ – 10800$
- The resistances of the day are at 12000$ – 12500$
The evolution of the BTC and ETH is often linked, so the daily technical situation of the Ethereum also shows signs of decline.
It can be seen that the decline in BTC has led to the fall of ETH. At the moment, ETH seems to have found its support in the former resistance of the channel at $288. So we have a kind of pullback that has taken place.
This is quite healthy for the market. It should also be noted that we have been in the presence of a large oblique support since April 25, 2019.
What to do about it?
The easiest way is to play the break/bounce on the oblique support.
- The supports of the day are at 287$ – 277$
- The resistances of the day are at 320$ – 335$
BTC: Bitcoin is just under significant resistance. We advise you to wait for a return to the support or a breakage of this resistance before positioning yourself.
ETH : Ethereum is being retraced. We advise you to wait for a return on the oblique support before positioning yourself.
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