Market analysis of April 30, 2019

Updated: May 1, 2019


Marketcap


The marketcap has been moving down (1.50%) since yesterday. The total capitalization is 168.941.046.577 USD.

Bitcoin totals 92.675.502.714 USD of capitalization for a dominance of 54.8%.

Ethereum's marketcap is 16.676.907.056 USD, followed by Ripple with 12.403.854.268 USD.


Market sentiment


How to read the Market Sentiment ?





Bitcoin


The Bitcoin is still evolving in its symmetrical triangle at the beginning of this European session, after having tried a downward break yesterday.


What is the current situation?


  • We are approaching the end of this figure, which makes impulsive movement very likely. The question is in what direction the BTC will break its triangle.

  • The daily technical situation is still very uncertain with a downward oriented MACD and a StochRSI which, although in its oversold zone, still gives no buy signal. Over a shorter time horizon, such as 2 hours, the technical situation is uncertain, which is logical during the consolidation period.


What to do about it?


As the situation has not changed since yesterday, the recommendations remain the same. If you are still in position, we recommend that you place your stop-loss under $5,000. Otherwise, wait for the triangle to break up and in this case, wait for confirmation of the breakage of the next resistance at the $5,250 level. If the triangle breaks down, wait for a return on the support at the level of $5,050.


The supports of the day are at 5050$ - 4800$

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




Ethereum



After testing the bottom of its trading range, ETH is currently trading at $155.7 and is approaching its resistance of $157.


The daily technical situation shows signs of a possible upward reversal with a CCI that breaks the level of -100 on the rise as well as a WaveTrends that shows signs of imminent crossing. Over a shorter time horizon, in 2 hours, the technical situation is also positive.


What to do about it?


If you are not in position, wait until the resistance 1 breaks at $157 before buying to target $163. If you are in a position and with a medium-term perspective, we recommend placing a stop-loss under support 2, at $144.


The supports of the day are located at 150$ - 144$

The resistances of the day are to 157$ - 163$


Conclusion


BTC: Bitcoin and currently in a symmetrical triangles. If you are still in position, we recommend that you place your stop-loss under $5050. If you are not yet in position, we recommend that you wait until the triangle and resistance 1 break before proceeding to purchase.


ETH: Ethereum is approaching its next resistance. We recommend that you wait for the breakage of resistance 1 before purchasing.



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