Market analysis of June 11, 2019
Marketcap
The marketcap has been moving up (+0.13%) since yesterday. The total capitalization is 253.574.454.394 USD.
Bitcoin totals 140.942.732.064 USD of capitalization for a dominance of 55.60%.
Ethereum's marketcap is 26.209.548.912 USD, followed by Ripple with 16.635.543.902 USD.
Market Sentiment
How to read the Market Sentiment?
Bitcoin
What is the current situation?
- After reaching a point at $7,523, BTC closed the previous session at $8,021, the price is currently around $7,950. From a technical point of view, the daily horizon indicators, although bearish, are beginning to show signs of upward curvature. On a 4-hour horizon, the situation is positive, but a risk of correction is nevertheless present.
What to do about it?
The situation of the BTC remains uncertain, which is why we recommend placing a stop-loss above your entry price if you are in position. If you are not yet in position, we advise you to wait for a confirmed break of $8,000 in the case of an increase, or a return to the support at $7,600 before reassessing the situation.
- The supports of the day are at 7650$ - 7500$
- The resistances of the day are at 8000$ - 8500$
Ethereum
ETH's technical situation remains negative on a daily basis but we can, just like on the BTC, see signs of improvement. Indeed, WaveTrends and MACD are starting to bend upwards.
On a 4-hour horizon, the technical situation is positive but we can see signs of curvature on the WaveTrends and the MACD.
What to do about it?
If you are in position, place your stop-loss above your purchase price. If you are not in position, however, wait until the resistance breaks at $250 and a return on support at $230 before reassessing the situation.
- The supports of the day are at 230$ - 215$
- The resistances of the day are at 250$ - 260$
Conclusion
BTC and ETH evolved under significant resistance. We advise you to wait for the return on a support or the breakage of a resistance to reassess the situation.
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