Market analysis of April 29, 2019
Marketcap
The marketcap has been moving up (0.12%) since yesterday. The total capitalization is 171.527.185.828 USD.
Bitcoin totals 93 629 418 186 USD of capitalization for a dominance of 54.6%.
Ethereum's marketcap is 16.707.496.219 USD, followed by Ripple with 12.544.868.663 USD.
Market sentiment
How to read the Market Sentiment ?
Bitcoin
In recent days, the BTC seems to have been moving in a symmetrical triangle with a high point of $5,291 and a low point of $5046.
What is the current situation?
A few hours ago, BTC touched the oblique resistance of the triangle, so it is possible that a return to the support of this triangle is considered around 5120$.
In this type of configuration, it is not easy to define the direction of the price break. However, if a downward break occurred, an important support is not very far away, support of $5050.
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 $5,000. Otherwise, it seems necessary to us to be patient, in order to confirm the break of the triangle is up and in this case, wait for a confirmation of the break of the next resistance at the level of 5250$. Either down and therefore wait for a return on the support at the level of 5050$.
The supports of the day are at 5050$ - 4800$
The resistances of the day are at 5250$ - 5360$
Ethereum
ETH is moving into a trading range with support at the $150 level and resistance at $157. ETH is currently evolving at a price of $153.65.
It seems that since February 10, ETH has bounced back several times on an oblique support. With a rather negative daily situation, it is possible that ETH will approach this support before it can rise again.
What to do about it?
We recommend that you wait for a break in resistance 1 before considering a long position. If this level is not exceeded, a short position could then be considered to aim for a return to support 1 first, and then 2.
The supports of the day are located at 150$ - 144$
The resistances of the day are to 157$ - 163$
Conclusion
BTC: Bitcoin evolves in a symmetrical triangles. 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 in the middle of a range. We recommend to wait for the breakage of resistance 1 before placing you in the purchase.
You can join us on Telegram for a follow-up of the market throughout the day.
For any question, our team will be happy to answer you on our support which is open 7/7 days.
For any information about our subscriptions, please visit our website or contact @CryptoAddictsButlerBot directly to get all the information you need.
See you tomorrow for a new market analysis!
48 views