The marketcap has been moving up (+1.73% ) since yesterday. The total capitalization is 176.457.056.073 USD.
Bitcoin totals 91.360 .149 .767 USD of capitalization for a dominance of 51.8% .
Ethereum's marketcap is 17 .706 .119. 070 USD , followed by Ripple with 13 .740. 014. 444 USD of market capitalization.
A few hours ago, we were able to see the BTC go up and reach a high point at the 5192$ level. The movement that pushed the BTC upwards is not a significant movement, we can see that the volume is decreasing.
What is the current situation?
With the retracement of Fibonacci, we can see that the BTC has reached a resistance without really breaking it and that since April 3, a range is emerging between a support at around 5000$ and a resistance at around 5150$.
What to do about it?
If the BTC succeeds in breaking the resistance, we will be able to see the BTC go back to the following resistances (5250$ - 5500$). However, the price could go back to around 5120$. However, a significant movement of the BTC can only come with an increase in volume.
The supports of the day are located at 5120$ - 5000$
The resistances of the day are to 5200$ - 5350$
In the last few hours, we have seen a positive evolution of ETH, allowing it to break the resistance of the 0.382 of Fibonacci. However, the $170 resistance has not yet been broken, which could push ETH down.
The supports of the day are located at 166$ - 162$
The resistances of the day are to 170$ - 174$
As you can see from this analysis; the short-term resistance has been broken for Bitcoin and it could be used as a support in the coming hours.
We advise you to take a position on the BTC if the 38.2% Fibonacci resistance is broken. If the price falls, it is better to wait for important entry points before investing again -> 5000$ - 4900$ - 4700$.
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