Market Analysis of March 11, 2020

The marketcap has been moving down (-1.21%) since yesterday. The total capitalization is 223 166 989 299 USD.

Bitcoin totals 143 098 904 424 USD of capitalization for a dominance of 64.10%. Ethereum’s marketcap is 21 854 143 328 USD, followed by Ripple with 9 155 105 340 USD.

Market Sentiment

Bitcoin Analysis

Bitcoin closed lower with a doji showing the uncertainty of the market and the war between buyers and sellers. The BTC is trading around $7822, just above its support.

The daily technical situation remains negative, but on a daily basis we can still see a bullish divergence on the CCI. Over a 4 hour time horizon we can see a recovery of the indicators but they remain bearish in 1 hour.

What to do about it?

The situation is still too uncertain to take a position. In the event of a rebound, we can hope for a new test of the $8,100.

Ethereum Analysis

ETH closed lower with a doji for the second time and is trading around $197.

The daily technical situation is negative with no sign of recovery. The technical situation remains negative over a time horizon of 4h and 1h.

What to do?

ETH is consolidating and a support or resistance test is necessary before positioning.

Conclusion

The daily technical situation is negative for ETH and BTC.

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