The marketcap has been moving up (+2.45%) since yesterday. The total capitalization is 188.742.846.215 USD.
Bitcoin totals 112.167.339.238 USD of capitalization for a dominance of 58%.
Ethereum's marketcap is 18.498.720.001 USD, followed by Ripple with 12.661.894.759 USD.
The bullish strategy was confirmed with the Bitcoin which broke its upward widening bevel by freeing itself from its resistance at $6163. BTC would now move to its next resistance at $6,400.
What is the current situation?
The technical indicators on a daily horizon are still evolving in their overbought area, and do not show any signs of potential decline. On a 4-hour horizon, the technical situation is the same but the CCI is starting to turn around.
What to do about it?
The BTC is close to a big resistance at 6400$, that's why we do not recommend an immediate purchase if you are not yet in position. It will be wiser to wait for a break of the resistance before taking a position. If you are in position, place your stop-loss above your purchase price ($6163).
The supports of the day are at 6150$ - 6000$
The resistances of the day are at 6400$ - 6800$
ETH broke its resistance at $172 yesterday and is currently heading towards the next resistance at $180. The daily technical situation is positive.
Over a 4-hour horizon, the technical indicators are also positive and are heading towards their overbought area.
What to do about it?
If you are in position, place your stop-loss under $172. If you are not yet in position, we recommend that you wait for a break of the next resistance before positioning yourself.
The supports of the day are at 172$ - 166$
The resistances of the day are at 180$ - 205$
BTC: Bitcoin is currently heading towards its next resistance at $6,400. If you are already in position, place your stop-loss under $6,150. If you are not yet in position, we advise you to wait for a breakage of the 6400$.
ETH: Ethereum is also heading towards its next $180 resistance. If you are in position place your stop-loss under $172. If you are not in position yet, wait for a $180 break before considering a long position.
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See you Monday for a new market analysis!
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