2

Market Analysis of November 04, 2019

The marketcap has been moving down (-0.24%) since yesterday. The total capitalization is 246 979 300 582 USD.
Bitcoin totals 166 466 256 245 USD of capitalization for a dominance of 67.30%. Ethereum’s marketcap is 19 843 804 568 USD, followed by Ripple with 12 666 993 441 USD.

Market Sentiment

HOW TO READ THE MARKET SENTIMENT ?

Bitcoin Analysis

A new week and month that begins with a BTC price that evolves between the Weekly and Monthly open at a price of $9178.

The daily technical situation is not very positive. Although the indicators are evolving positively, they are in an overbought zone.
Over a time horizon of 4 hours, the technical situation is mixed, the various indicators are in the middle of the range.

What to do about it?

This is not the time to launch a trade on the BTC, it is in an uncertain zone. A return to the support or breakage of the resistance is necessary to see more clearly.

  • The supports of the day are at 9000$ — 8600$
  • The resistances of the day are at 9400$ — 9800$

Ethereum Analysis


ETH seems to have bounced back on the support of the triangle in which it operates and the price is back above the Weekly and Monthly Open.
The technical situation over a daily horizon is positive, however, signs of downward crossings are visible. Over a time horizon of 4 hours, the technical situation is positive. The MACD and Wavetrends are increasing.

What to do about it?

As long as ETH evolves in its triangle, it is dangerous to invest, an exit from this triangle is interesting to wait to see the direction of ETH.

  • The supports of the day are at 181$ — 173$
  • The resistances of the day are at 193$ — 202$

Conclusion

BTC and ETH are still in consolidation, close to support and resistance. We do not recommend trading while they are in this position.
You can join us on Telegram for a follow-up of the market throughout the day.
For any question, our team will be happy to answer you on our support which is open 7/7 days.
For any information about our subscriptions, please visit our website or contact @butler_4c_bot directly to get all the information you need.

Butler Bot


VIP Plans


Dashboard

Leave a Comment

Your email address will not be published. Required fields are marked *