Marketcap
The marketcap has been moving down (-1.39%) since yesterday. The total capitalization is 268.069.111.277 USD.
Bitcoin totals 151.682.953.654 USD of capitalization for a dominance of 56.90%.
Ethereum's marketcap is 28.200.482.504 USD, followed by Ripple with 18.153.314.740 USD.
Market Sentiment
How to read the Market Sentiment?
Bitcoin
We were talking to you yesterday about a risk of correction, given the presence of an inverted hammer on the BTC, this risk was found and BTC came to test its support area between $8,400 and $8,500. The daily technical situation is now rather negative with a WaveTrends that crossed downwards, a CCI that is moving towards the 100 level and a MACD that is about to give a sell signal.
What is the current situation?
On a shorter time horizon, in 4 hours, the situation is also negative.
What to do about it?
Given the current technical situation, we advise you to wait for a break in the resistance zone between $8,800 and $9,000 before positioning yourself.
- The supports of the day are at 8500$ - 8300$
- The resistances of the day are at 8800$ - 9000$
Ethereum
See on Trading View
ETH is still evolving between its support at $260 and its resistance at $272. After reaching a high of $277.2 in the previous session, ETH now stands at $264.5.
The daily technical situation is rather negative with a WaveTrends and a bearish CCI and a MACD that is about to cross. The technical situation is also negative on a 4-hour time horizon.
What to do about it?
We advise you to wait for a clear break of the major resistance at $280 before positioning yourself upwards.
- The supports of the day are at 260$ - 250$
- The resistances of the day are at 272$ - 280$
Conclusion
BTC and ETH are in a consolidation configuration after a large rise. For BTC, place yourself at the break of the resistance and for ETH Place yourself at the break of resistance 2.
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.
For any information about our subscriptions, please visit our website or contact @CryptoAddictsButlerBot directly to get all the information you need.
See you tomorrow for a new market analysis ! 🚀