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Market Analysis of October 21, 2019

The marketcap has been moving up (+2.88%) since yesterday. The total capitalization is 222 694 809 126 USD.

Bitcoin totals 148 438 218 854 USD of capitalization for a dominance of 66.70%. Ethereum’s marketcap is 18 915 720 633 USD, followed by Ripple with 12 557 531 907 USD.

Market Sentiment

HOW TO READ THE MARKET SENTIMENT ?

Bitcoin Analysis

Bitcoin closed with a bullish movement (+3.43%) and is currently trading at around $8210. It continues its evolution in range and is below the Monthly Open.

The daily technical situation is rather positive. The MACD is up, the WaveTrends has crossed up But the CCI is horizontal.

Over a time horizon of 4 hours, the technical situation is also rather positive. WaveTrends and MACD are on the rise despite a declining CCI.

What to do about it?

A drop is possible before the BTC resumes a bullish move. Also keep an eye out for the role that the Weekly Open will play.

  • The supports of the day are at 7800$ — 7200$
  • The resistances of the day are at 8300$ — 8800$

Ethereum Analysis

ETH closed with a bullish movement and is trading around 173.9.

The technical situation is negative, the indicators are all down.

Over a time horizon of 4 hours, the situation is rather positive. The MACD and WaveTrends are on the rise but the CCI is on the decline.

What to do about it?

We advise you to wait and see what role the Weekly Open will take. A consolidation time is possible before resuming a bullish movement.

  • The supports of the day are at 168$ — 155$
  • The resistances of the day are at 178$ — 181.35$

Conclusion

BTC and ETH are down after a bullish movement, a period of consolidation before resuming the movement is possible.

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