The marketcap has been moving up (+0.49%) since yesterday. The total capitalization is 263.429.071.622 USD.
Bitcoin totals 146.769.920.389 USD of capitalization for a dominance of 55%.
Ethereum's marketcap is 27.366.927.179 USD, followed by Ripple with 16.975.711.065 USD.
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 $8250 or a return to the $8000 support before initiating a long position.
The supports of the day are at 8140$ - 7940$
The resistances of the day are at 8450$ - 8600$
ETH is still above $250 (old resistance). It seems to be in an upward channel. A further increase would therefore be entirely possible.
We will also note the overselling of the StochRsi, an upward reversal is possible. This will depend on whether ETH can stay in its upward channel.
The supports of the day are at 250$ - 232$
The resistances of the day are at 264$ - 276$
BTC is in a downward configuration with an upward bevel.
ETH is in an upward channel. Our advice? If you want to enter a trade, think about playing on the breaks in the supports/resistors.
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!