The marketcap has been moving down (-0.65%) since yesterday. The total capitalization is 245.173.528.776 USD.
Bitcoin totals 139.779.222.040 USD of capitalization for a dominance of 57%.
Ethereum's marketcap is 26.467.379.429 USD, followed by Ripple with 16. 605. 902. 449 USD.
In recent hours, the BTC has again tested the resistance in the $8,300 zone reaching a high point at 8299. By reaching this level, the price dropped to a low of $7819.
What is the current situation?
From a chartist point of view, BTC could realize a figure of head & shoulders. In this case, if the 7800$ level is broken, we could expect a fall to 7650$ first, if this level does not hold then we could review the 7450$.
If however the level of 7800$ resists, the level of 8000$ could be tested again.
What to do about it?
If the $7800 is broken, wait for a return of $7650 before returning to the position, if this level takes a position at the $7450 level while moving your stop loss.
If the $8000 is tested again, then wait for confirmation of the breakage to aim first at the $8,150 and then at the $8,300.
The supports of the day are at 7800$ - 7650$
The resistances of the day are at 8000$ - 8150$
The evolution of ETH closely follows that of Bitcoin and has therefore very logically reached a high point at $265 before currently returning to $250.
The daily technical situation is rather bearish and it seems that ETH is evolving in a triangle. If the support of this support is broken, we could see ETH return to lower levels.
What to do about it?
Caution should be exercised for the time being, so we recommend waiting for confirmation of a broken support or resistance.
The supports of the day are at 245$ - 230$
The resistances of the day are at 255$ - 265$
BTC: If you buy at the lowest price, place your stop-loss above your purchase price. If you are not yet in position, we advise you to wait for a return on the support at 6800$ or a break of 8500$.
ETH: Caution should be exercised at this time, so we recommend waiting for a return to the $220 support or a $270 break before proceeding with the purchase.
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 tomorrow for a new market analysis!