Market analysis of April 24, 2019


Marketcap


The marketcap has been moving down (-3.89%) since yesterday. The total capitalization is 177.692.472.155 USD.

Bitcoin totals 97.221.944.047 USD of capitalization for a dominance of 54.7% .

Ethereum's marketcap is 17.557.949.866 USD, followed by Ripple with 12.624.767.540 USD.


Market sentiment


How to read the Market Sentiment ?


Bitcoin


The Bitcoin approached its resistance level of $5,650 yesterday but failed to exceed it. We can also notice a downward divergence in the daily horizon that seems to have been activated.


What is the current situation?


  • Indeed the market is extremely volatile this morning, BTC having lost nearly 3% in 15 minutes.


What to do about it?


The Bitcoin could return to its daily Tenkan (blue line) at $5,250 initially or even to its Kijun (green line) at $4,640. If you are in position, we encourage you to close it if you have not already done so. If you are not in position, do not change anything, the Bitcoin is too unstable for the moment, it is better to wait for a return on support.


Be careful!


The supports of the day are located at 5360$ - 5250$

The resistances of the day are to 5650$ - 5800$




Ethereum



The technical situation of the ETH is rather negative in daily horizon and 12 hours with StochRSI and MACD indicators oriented downwards. On a shorter horizon, in 4 hours, the StochRSI approaches its oversold zone and begins to show signs of bullish curves.


ETH is currently in a bullish consolidation triangle configuration and is currently on the support of the latter.


What to do about it?


If you have ETH, we recommend that you reduce your exposure. If you are not in a position, we recommend that you be patient given the market situation.


The supports of the day are located at 163$ - 158.5$

The resistances of the day are to 168$ - 176.5$


Conclusion


BTC: Bitcoin has not broken its resistance and is currently testing its support at 5360$. If you are still in position, we recommend that you reduce your exposure. If you are not yet in position, we recommend that you wait for a return on support 1 before proceeding to purchase.


ETH: Ethereum is currently testing its oblique support. If you are already in position, we also advise you to reduce your exposure. 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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