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Market Analysis of October 09, 2019

The marketcap has been moving up (+0.29%) since yesterday. The total capitalization is 223 644 011 819 USD.

Bitcoin totals 148 316 314 896 USD of capitalization for a dominance of 66.30%. Ethereum’s marketcap is 19 742 631 812 USD, followed by Ripple with 12 022 600 515 USD.

Market Sentiment

Market Analysis of October 09, 2019 - 4C Trading

Bitcoin Analysis

Bitcoin closed down (-0.34%) with a star-shaped candle showing us the indecision that prevails on the market for the moment. BTC is currently trading at around $8165, still in consolidation between the Monthly Open and Weekly Open which serve as resistance and support respectively.

Market Analysis of October 09, 2019 - 4C Trading

The daily technical situation is rather positive. The CCI is horizontal but the MACD and WaveTrends are both slightly up.

Over a time horizon of 4 hours, the situation is also quite positive. Despite a slightly lower CCI, the MACD is up and the WaveTrends has crossed up.

What to do about it?

The BTC continues its evolution in range, it has not yet come to test the weekly and may do so today.

  • The supports of the day are at 7700$ — 7400$
  • The resistances of the day are at 8500$ — 9250$

Ethereum Analysis

Market Analysis of October 09, 2019 - 4C Trading

ETH a clôturé par un mouvement haussier en forme de doji montrant bien l’incertitude régnante sur le marché tout comme pour le BTC. Il évolue pour le moment aux alentours de 181.65$.

La situation technique journalière est positive. En effet tous les indicateurs sont à la hausse.

Sur un horizon de 4h, la situation technique reste plutôt positive. Malgré un CCI légèrement baissier, le MACD et le WaveTrends restent à la hausse.

What to do about it?

ETH seems to evolve in range, the Monthly Open is strongly tested for the moment so be careful for a possible breakage because ETH seems to resume a slightly upward trend.

  • The supports of the day are at 169$ — 162$
  • The resistances of the day are at 181.35$ — 189$


BTC and ETH are still in consolidation but ETH seems to be taking a bullish trend and is testing its resistance which is the Monthly Open, be careful in case of breakage.

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