Market Analysis of March 19, 2020

The marketcap has been moving up (+5.1%) since yesterday. The total capitalization is 154 934 337 723 USD.

Bitcoin totals 100,206,556,971 USD of capitalization for a dominance of 64.30%. Ethereum’s marketcap is 13 292 360 764 USD, followed by Ripple with 6,527,571,831 USD.

Market Sentiment

HOW TO READ THE MARKET SENTIMENT ?

Bitcoin Analysis

The BTC closed higher and is trading around $5680.

The daily technical situation is rather positive and the rest over a 4-hour time horizon.

What to do about it?

The situation becomes positive again but we must remain cautious. We have the formation of an ascending triangle in 4 hours, if it breaks on the upside, we must wait for a close above for confirmation and have a bullish scenario.

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

Ethereum Analysis

ETH closed higher in hammer form and is now trading around $124.

The daily technical situation is rather positive and the rest in 4 hours.

What can we do about it?

It is advisable to wait until ETH closes above $123 in 4 hours to hope for a test of $136.

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

Conclusion

The daily technical situation is rather positive for ETH and BTC.

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