The marketcap has been moving up consequently (+9.97%) since last Friday. The total capitalization is 224 237 600 890 USD.
Bitcoin totals 132 140 611 025 USD of capitalization for a dominance of 58.9%.
Ethereum's marketcap is 21 384 040 631 USD, followed by Ripple with 1.3 79.8 79.1 83 USD
BTC is currently evolving at the $7,000 level. In the last few hours, the latter evolves in waves and could form a kind of triangle.
What is the current situation?
From a technical point of view, over the medium term we see that the indicators evolve laterally, which is visible with the BTC approaching the end of the triangle.
However, over longer horizons, we see that the indicators are high and could therefore cross downward and therefore lower the price of BTC, which would coincide with a correction after a sharp rise.
What to do about it?
If you are not in position and the BTC increases, wait for an upward break in the $7100 level, if the BTC decreases, and breaks the $6950 level, wait for stabilization on supports below $6,800, even $6,400.
The supports of the day are at 6800$ - 6400$
The resistances of the day are at 7200$ - 7500$
After testing the $205 level twice, ETH decreased to a low of $183. Currently it is at the 188$ level. On a 4-hour horizon, the technical indicators evolve negatively, so it is possible to see ETH testing the $183 level again.
What to do about it?
ETH is currently between $190 and $183. It is important to wait for a break in these areas before a possible position. If the $183 is broken, we could see the price go down to lower levels, $181, $175, $160. If however the $190 resistance is broken, then the price could retest the $200 level.
The supports of the day are at 183$ - 175$
The resistances of the day are at 190$ - 200$
BTC and ETH are evolving in an increasingly smaller range and a large movement could occur.
BTC: If you are already in position, place your stop-loss under $6,800. If you are not yet in position, we advise you to wait for a break of $7,100 or a return of $6,800.
ETH: If you are in position place your stop-loss under $175. If you are not in position yet, wait for a $190 break before considering a long position.
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.
See you Monday for a new market analysis!