Market Analysis of May 20, 2020

The marketcap has been moving up (+0.21%)  since yesterday. The total capitalization is 267 806 138 602 USD.

Bitcoin totals 179 344 670 105 USD of capitalization for a dominance of 66.90%. Ethereum’s marketcap is 23 725 248 516 USD, followed by Ripple with 9 033 132 494 USD.

Market Sentiment

HOW TO READ THE MARKET SENTIMENT ?

Bitcoin Analysis

The BTC closed higher in doji form for the 2nd day in a row and is trading around $9767. Not much new since yesterday, there is still this uncertainty in the market.

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

What to do about it?

Things haven’t changed, same advice: stay away from the btc while waiting for a better entry point.

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

Ethereum Analysis

ETH closed higher with a hammer-shaped candle and is trading around $213.

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

What to do?

As for the BTC, ETH’s situation has not evolved much and therefore I recommend not to get close to it because of this market uncertainty.

  • The supports of the day are at 207$ — 192$
  • The resistances of the day are at 217$ — 227$

Conclusion

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

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