Market Analysis of May 15, 2020

The marketcap has been moving down (-0.69%) since yesterday. The total capitalization is 261 035 173 020 USD.

Bitcoin totals 176 672 576 099 USD of capitalization for a dominance of 67.60%. Ethereum’s marketcap is 22 108 224 785 USD, followed by Ripple with 8 875 643 565 USD.

Market Sentiment

HOW TO READ THE MARKET SENTIMENT ?

Bitcoin Analysis

The BTC closed higher and is trading around $9580 after testing $10,000.

The daily technical situation is rather positive but becomes rather negative in 4 hours.

What to do about it?

The BTC has dropped from $10,000 to 9200 and is now around $9500. If the level of the 9500 holds we can hope for a re-test of the 10 000$.

  • The supports of the day are at 9500$ — 9200$
  • The resistances of the day are at 10000$ — 10500$

Ethereum Analysis

ETH closed higher and is trading around $200 after testing $207.

The daily technical situation is rather positive with a WaveTrends which crossed higher but becomes rather negative in 4 hours.

What to do?

If the 207s are retested, a short can be launched and if the 197s don’t hold we could hope to see the $185 level.

  • The supports of the day are at 197$ — 185$
  • The resistances of the day are at 207$ — 217$

Conclusion

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

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