Market Analysis of March 17, 2020

The marketcap has been moving down (+12.35) since yesterday. The total capitalization is 149 597 574 006 USD.

Bitcoin totals 95 899 693 337 USD of capitalization for a dominance of 63.80%. Ethereum’s marketcap is 12 758 682 696 USD, followed by Ripple with 6 462 618 564 USD

Market Sentiment

HOW TO READ THE MARKET SENTIMENT ?

Bitcoin Analysis

The BTC closed lower with a hammer-shaped candle and is trading around $5248.

The daily technical situation is negative but we have a WaveTrends that just crossed higher.

What to do about it?

We have signs of recovery but we must wait for a confirmation before being able to position ourselves!

  • The supports of the day are at 4350$ — 3596$
  • The resistances of the day are at 5650$ — 6000$

Ethereum Analysis

ETH closed lower, trading around $116.

The daily technical situation is negative but becomes positive over a short time horizon.

What to do?

The situation is still quite uncertain. We have to wait for a test of the supports and resistances.

  • The supports of the day are at 100$ — 85$
  • The resistances of the day are at 123$ — 136$

Conclusion

The daily technical situation is negative for ETH and BTC but we can see a start of recovery. 

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