Days Analysis 11

Market Analysis off January 20, 2020

The marketcap has been moving down (-4.42%) since yesterday. The total capitalization is 237 159 360 913 USD.

Bitcoin totals 157 371 532 130 USD of capitalization for a dominance of 66.4%. Ethereum’s marketcap is 18 070 231 384 USD, followed by Ripple with 10 088 626 376 USD.

Market Sentiment

Bitcoin Analysis

The technical situation of Bitcoin had already been showing risks of a downturn for several sessions, but it continued to rise to the 9190 level before plunging down to 8400.

The daily technical situation is now negative while over a 4-hour horizon, signs of bullish curves are visible.

What to do about it?

For the time being we will wait for a return to support before reassessing the situation or a confirmed break in the 8950 – 9050 zone on a daily basis.

Ethereum Analysis

The situation is similar for the ETH, with a daily technical situation that has just turned negative, while on a 4-hour horizon, potential upward signs are visible.

As for BTC, we will wait either for a break in the resistance zone or a support test before positioning ourselves.

Conclusion

Waiting for a return on support or a test and retest on resistance

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