Market analysis of June 13, 2019


Marketcap


The marketcap has been moving up (+2.28%) since yesterday. The total capitalization is 262.142.102.916 USD.

Bitcoin totals 144.260.014.912 USD of capitalization for a dominance of 55%.

Ethereum's marketcap is 27.609.148.176 USD, followed by Ripple with 17.193.188.263 USD.


Market sentiment


How to read the Market Sentiment ?





Bitcoin


After having evolved below the resistance level of $8,000 for several sessions, BTC finally broke this level and closed at $8,176.




What is the current situation?


  • The daily technical situation is now rather positive with a WaveTrends and a CCI having given a buy signal while the MACD shows signs of imminent crossing. On a shorter horizon, in 4 hours, the technical indicators show signs of downward curvature, which could lead to a decrease towards $8,000 before rising again.


What to do about it?


  • If you are in position, place your stop-loss above your purchase price. If you are not yet in position, wait for a break of the $8,250 or a return to the $8,000 support before initiating a long position.


The supports of the day are at 8000$ - 7800$

The resistances of the day are at 8250$ - 8500$




Ethereum



  • ETH broke its resistance at $250 during the previous session and is currently around $260. The technical situation is quite similar to that of Bitcoin, CCI and WaveTrends having given a buy signal.

  • Over a 4-hour horizon, a slight risk of correction is also present.


What to do about it?


If you are in position, place your stop-loss above your purchase price, otherwise wait for a return on support at $250 or a break of $263 before proceeding with the purchase.


The supports of the day are at 250$ - 232$

The resistances of the day are at 263$ - 295$


Conclusion


BTC and ETH are in ranges. Our advice? Be patient and follow the evolution of prices according to the supports and resistances indicated above ! we advise you to wait for a support or a resistance break and to reassess the situation.

Note: breaks must be accompanied by a high volume, otherwise it could indicate false breaks whose sole purpose is to trap traders!


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See you tomorrow for a new market analysis!

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