The marketcap has been moving up (4.07%) since yesterday. The total capitalization is 184.898.873.747 USD.
Bitcoin totals 98.296.379.570 USD of capitalization for a dominance of 51.9% .
Ethereum's marketcap is 18.590.468.562 USD, followed by Ripple with 13.720.445.459 USD.
Today we can say it, BTC has indeed broken the resistance of its rising triangle at $5,360. Bitcoin reached a high of $5,627 at the beginning of the session on Bitstamp, a level that had not been reached since November 18.
What is the current situation?
The daily technical situation is rather positive with a MACD showing signs of imminent crossing and a StochRSI still on the rise. On a shorter horizon, in 1 hour, the CCI and StochRSI technical indicators evolve in their oversold zone and we can notice a downward divergence between prices and the CCI.
We do not believe that this will have a huge impact on the current increase, but a slight correction after this break is not impossible.
What to do about it?
If you were already in position before the break, keep it by raising your stop-loss under the last lows, around $5,200. If you are still not in position, we recommend waiting for a return on the support at $5,450 before reassessing the situation again.
The supports of the day are located at 5450$ - 5360$
The resistances of the day are to 5625$ - 5800$
It seems that ETH is currently testing its resistance at $176.5, the technical situation is rather positive in daily and 12-hour time horizons. Over a shorter time horizon, in 1 hour, the StochRSI and CCI indicators show signs of overbought and a small correction could occur.
Nevertheless, unlike the BTC, we do not distinguish any downward divergence in a 1-hour time horizon.
What to do about it?
If you are already in position, we recommend that you place your stop-loss under bracket 2. If you are not yet in position, it will be more prudent to wait for a return on support 1 before proceeding to purchase
The supports of the day are located at 176.5$ - 168$
The resistances of the day are to 173$ - 182$
BTC: the Bitcoin consolidates after the break of its ascending triangle. If you are already in position, keep it and leave your stop-loss under $5,200. If you are not yet in position, we advise you to wait for a return on support 1.
ETH: Ethereum is currently testing its resistance at $176. If you are already in position, we recommend that you place your stop-loss under bracket 2. If you are not yet in position, it is preferable to wait for a return on support 1 before proceeding to purchase.
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See you tomorrow for a new market analysis !