Market analysis of June 6, 2019


Marketcap


The marketcap has been moving up (+1.96%) since yesterday. The total capitalization is 248.789.619.952 USD.

Bitcoin totals 138.557.859.095 USD of capitalization for a dominance of 55.80%.

Ethereum's marketcap is 26.099.646.615 USD, followed by Ripple with 16.883.675.674 USD.


Market sentiment


How to read the Market Sentiment ?





Bitcoin


After fluctuating between $7,570 and $7,924 during the session, the BTC finally closed below the $7,800 level at $7,785. BTC is still at this level, with the market remaining relatively calm for the time being.



What is the current situation?


  • However, the daily technical situation remains negative on the MACD, WaveTrends and CCI. On a shorter horizon, in 4 hours, the situation shows a potential for an increase.

What to do about it?


  • If you are still in position, place your stop-loss above your purchase price. If you are not yet in position, wait for a break in the $8,000 resistance before positioning yourself.


The supports of the day are at 7650$ - 7500$

The resistances of the day are at 8000$ - 8500$




Ethereum



  • ETH's daily technical situation remains negative, with a bearish MACD and WaveTrends. ETH is above the $245 level but we must wait for confirmation of the break before drawing any conclusions.

  • On a 4-hour horizon, the technical situation is rather positive.


What to do about it?


If you are still in position, place your stop-loss above your purchase price. If you are not yet in position, wait until the $250 break before positioning yourself.


The supports of the day are at 245$ - 230$

The resistances of the day are at 250$ - 260$


Conclusion


BTC and ETH evolved under significant resistance. We advise you to wait for the return on a support or the breakage of a resistance to reassess the situation.


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.

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See you tomorrow for a new market analysis!

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