The marketcap has been moving up (+6.88%) since yesterday. The total capitalization is 223 593 701 534 USD.
Bitcoin totals 151 158 265 818 USD of capitalization for a dominance of 67.60%. Ethereum’s marketcap is 19 478 682 636 USD, followed by Ripple with 11 037 226 827 USD.
The BTC closed higher and is trading around $8,400. The Weekly Open is taking on the role of support for the moment.
The daily technical situation is rather negative, the MACD is down, the WaveTrends is down but shows signs of recovery and the CCI is up.
On the other hand, over a time horizon of 4 hours, the technical situation is rather positive. The indicators are upwards except for the CCI which shows signs of downward curvature.
What to do about it?
We advise you to wait for confirmation of the role that the Monthly Open will take. The scenario where the BTC would retest the Weekly is not to be ruled out either.
- The supports of the day are at 8000$ — 7700$
- The resistances of the day are at 9000$ — 9600$
ETH closed up and is now trading at around $180, between the Weekly Open and Monthly Open.
The daily technical situation is rather negative with indicators down but showing slight signs of curvature. Over a time horizon of 4 hours, the technical situation is rather positive. There is a divergence in the different time horizons.
What to do about it?
The situation is interesting to observe as long as ETH is between Weekly and Monthly. Stay alert for any breakage to get an indication of its direction.
- The supports of the day are at 169$ — 150$
- The resistances of the day are at 189$ — 202$
We advise you to follow the movements of the BTC and ETH, especially with regard to their supports and resistances, to learn more about their directions before positioning yourself.
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