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Market Analysis of October 24, 2019

The marketcap has been moving down (-5.93%) since yesterday. The total capitalization is 204 331 525 991 USD.

Bitcoin totals 134 856 404 284 USD of capitalization for a dominance of 66.00%. Ethereum’s marketcap is 17 512 665 190 USD, followed by Ripple with 11 773 965 760 USD.

Market Sentiment

HOW TO READ THE MARKET SENTIMENT ?

Bitcoin Analysis

The Bitcoin closed with a downward movement of -6.87% and is currently trading at around $7424.

The daily technical situation is rather negative, the MACD and WaveTrends are down. However, the ICC is on the rise.

Over a time horizon of 4 hours, the technical situation is identical but the WaveTrends shows signs of recovery.

What to do about it?

The BTC has dropped below $7800 and is consolidating for the moment. We advise you to wait to see the amplitude of the new range being formed.

  • The supports of the day are at 7300$ — 6700$
  • The resistances of the day are at 7500$ — 7800$

Ethereum Analysis

ETH closed down for the 3rd day in a row and is trading at around $160. The daily technical situation is also rather negative, WaveTrends and MACD are on the decline while the CCI shows a slight recovery.

Over a time horizon of 4 hours, the technical situation remains rather negative but the CCI is bullish and the WaveTrends shows signs of recovery.

What to do about it?

ETH consolidates after falling the day before, we advise you to wait to see the amplitude of the range being formed.

  • The supports of the day are at 158$ — 152$
  • The resistances of the day are at 163$ — 168$

Conclusion

Alts can be more interesting and less risky to trade at the moment.

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.

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