Market analysis of May 14, 2019

Marketcap

The marketcap has been moving up (+8.06%) since yesterday. The total capitalization is 224.237.600.890 USD.

Bitcoin totals 144.478.509.379 USD of capitalization for a dominance of 58%.

Ethereum's marketcap is 22.370.741.843 USD, followed by Ripple with 16.274.806.298 USD.

Market sentiment

How to read the Market Sentiment ?

---

Bitcoin

The Bitcoin continues its parabolic ascent and is now above the $8,000 level. The technical indicators on the daily horizon are increasingly overbought and we can start to see signs of bearish curvature on the WaveTrends and the CCI.

What is the current situation?

• Over a 4-hour time horizon, the situation is similar, indicating that a correction could finally be made after all these sessions of increases.

What to do about it?

• If you are in position, place your stop-loss above your purchase price. Otherwise, we advise you to wait for a retracement to the $7600 support or a break in the $8500 resistance.

The supports of the day are at 7500$ - 7200$

The resistances of the day are at 8500$ - 9800$

---

Ethereum

ETH, after breaking the $200 level during yesterday's session, failed to close above that level. ETH has broken this level at the beginning of the session and is currently trading around $210.

The technical indicators over a daily horizon are also in overbought territory, which does not exclude a correction.

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 $200 or a break in the $220 resistance.

The supports of the day are at 200$ - 190$

The resistances of the day are at 220$ - 245$

---

Conclusion

BTC: If you are in position, place your stop-loss above your purchase price. Otherwise, we advise you to wait for a correction to the $7600 support or a break in the $8500 resistance.

ETH: If you are in position, place your stop-loss above your purchase price. Otherwise, wait for a return on support at $200 or a break in the $220 resistance.

---

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.

For any information about our subscriptions, please visit our website or contact @CryptoAddictsButlerBot directly to get all the information you need.

See you Monday for a new market analysis!