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Market Analysis of September 30, 2019

The marketcap has been moving down (-3.54%) since yesterday. The total capitalization is 209 204 967 755 USD.

Bitcoin totals 141 237 005 477 USD of capitalization for a dominance of 67.50%. Ethereum’s marketcap is 18 130 502 004 USD, followed by Ripple with 10 342 285 653 USD.

Market Sentiment


HOW TO READ THE MARKET SENTIMENT ?

Bitcoin Analysis

The Bitcoin closed with a bearish movement and is now trading around $7800. The Weekly open is at $8,000 and seems to be used for the resistance moment.

The daily technical situation remains rather negative. The MACD is down, the CCI is up and the WaveTrends is down with signs of curvature.

Over a time horizon of 4 hours, WaveTrends, MACD and CCI are on the decline. The technical situation remains negative.

What to do about it?

The situation is still uncertain for the moment but a rebound to $7500 and still possible.

  • The supports of the day are at 7700$ — 7200$
  • The resistances of the day are at 9000$ — 9600$

Ethereum Analysis

ETH closed once again with a downward movement and is evolving around 166.75. As with the BTC, the weekly seems to be taking on a role of resistance.

The daily technical situation is negative, the technical indicators are all down. Over a time horizon of 4 hours, the technical situation also remains negative.

What to do about it?

The situation is also quite uncertain for ETH, which is consolidating, so we will wait for confirmation of the role of the weekly open before positioning itself.

  • The supports of the day are at 160$ — 150$
  • The resistances of the day are at 172$ — 189$

Conclusion

We advise you to be attentive to the evolution of the BTC and ETH which are still being consolidated, to wait for the confirmation of the role of the weekly open.

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