Market Analysis of May 05, 2020

The marketcap has been Moving up (+2.99%) since yesterday. The total capitalization is 250 451 387 874 USD.

Bitcoin totals 165 158 256 103 USD of capitalization for a dominance of 66.00%. Ethereum’s marketcap is 23 171 859 534 USD, followed by Ripple with 9 677 522 306 USD.

Bitcoin Analysis

The BTC closed lower and has already taken 2% today and is trading around $9072.

The daily technical situation is still rather positive even though the WaveTrends has crossed lower. It remains rather positive in 4 hours.

What to do about it?

If the BTC manages to break the $9200 level we can consider a long, another scenario and wait for a retest of $8500 to launch one.

Ethereum Analysis

ETH closed lower, trading around $204.

The daily technical situation is rather positive with signs of bearish curvature and becomes rather negative in 4 hours.

What to do?

If the $200 level holds, a long may be launched.

Conclusion

The daily technical situation rather positive for ETH and BTC.

 

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