Market Analysis of May 19, 2020

The marketcap has been moving up (+1.02%)) since yesterday. The total capitalization is 267 237 882 703 USD.

Bitcoin totals 179 608 221 075 USD of capitalization for a dominance of 67.10%. Ethereum’s marketcap is 23 688 431 180 USD, followed by Ripple with 9 006 522 789 USD.

Bitcoin Analysis

Bitcoin closed higher in doji form, pointing to market uncertainty in addition to levels that have already been tested several times, making them more dangerous to trade. It is trading around $9792.

The daily technical situation is positive but rather negative with signs of recovery in 4 hours.

What to do about it?

It becomes too risky to throw a short in case of a $10,000 test, the situation is uncertain. The prudent trader will wait for a better entry point.

Ethereum Analysis

ETH closed higher and is trading around $214 after testing $207.

The daily technical situation is positive and remains rather positive in 4h and 1h.

What to do?

ETH moves in a range between two levels that have already been tested several times. The risk increases and therefore it is better to wait for a better entry point.

Conclusion

The daily technical situation is positive but uncertain for ETH and BTC.

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