Market analysis of April 26, 2019

Market analysis of April 26, 2019


Marketcap


The marketcap has been moving down (-3.26%) since yesterday. The total capitalization is 170.544.927.524 USD.

Bitcoin totals 93.277.769.467 USD of capitalization for a dominance of 54.7% .

Ethereum's marketcap is 16.443.992.130 USD, followed by Ripple with 12.303.890.566 USD.


Market sentiment


How to read the Market Sentiment ?


Bitcoin


After successfully breaking the $5,500 level again, the BTC dropped sharply at the end of the previous session. At the lowest point, BTC gave up more than 9% and had even broken its bullish channel. Bitcoin has now returned to the channel and is currently trading at around $5170.


What is the current situation?


  • The technical indicators on a daily horizon are rather negative with a StochRSI that is now firmly on a downward trend, as are the MACD and the CCI. The downward divergence between the MACD and prices has now been activated and the next question is whether the oblique support will hold.


What to do about it?


If you are still in position, it is because you did not have a stop-loss and in this case we recommend that you place it under $5,000. Otherwise, it seems necessary to us to be patient, in order to confirm the validity of the oblique support before proceeding to purchase. We will of course keep you informed of developments!


Be careful!


The supports of the day are at 5000$ - 4800$

The resistances of the day are at 5250$ - 5360$




Ethereum



ETH, like BTC, suffered the downward pressure in the previous session and broke its bullish consolidation triangle from below. Ethereum is currently just above its $152 support level, materialized by the bottom of the Kumo 12h.


On a daily basis, prices seem to have made a pullback under the Kijun ($155). If prices fail to return above this level, a further decline is likely. In addition, the technical indicators are negative in daily and 12-hour time horizons.


What to do about it?


We recommend that you wait for a break in resistance 1 before considering a long position. If this level is not exceeded, a short position could then be considered to aim for a return to support 1 first, and then 2.


The supports of the day are located at 152$ - 144$

The resistances of the day are to 155$ - 163$


Conclusion


BTC: Bitcoin is currently on its oblique support. If you are still in position, we recommend that you place your stop-loss under the bullish channel ($5,000). If you are not yet in position, we recommend that you wait for confirmation of the validity of the oblique support before proceeding with the purchase.


ETH: Ethereum is currently under resistance at $152. We recommend that you wait for the breakage of resistance 1 before purchasing.



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