Market analysis of May 28, 2019


Marketcap


The marketcap has been moving up (+1.87%) since yesterday. The total capitalization is 271.853.440.274 USD.

Bitcoin totals 154.778.579.321 USD of capitalization for a dominance of 56.90%.

Ethereum's marketcap is 154.778.579.321 USD, followed by Ripple with 17.853.016.503 USD.


Market sentiment


How to read the Market Sentiment ?





Bitcoin


The Bitcoin broke its triangle configuration two sessions ago and is currently trading at around $8,700. We can see that the previous candlestick was closed in the form of an inverted hammer, which could indicate a risk of correction over the short term. The technical indicators in daily time horizon are nevertheless in positive territory.


What is the current situation?


  • Over a shorter time horizon, in 4 hours, the technical situation is negative with a WaveTrends that crossed downwards and a CCI that is below the 100 level. The MACD has still not crossed downwards but is showing signs of curvature.


What to do about it?


  • If you were in position before the triangle broke, we recommend that you place your stop-loss below the $8,500 level. If you are not yet in position, we recommend waiting for a return on the support at $8,500 or a break in the psychological level of $9,000 before positioning yourself.


The supports of the day are at 8500$ - 8300$

The resistances of the day are at 8800$ - 9000$




Ethereum



  • ETH has reached a high point around $280 in the previous session and is currently just under $270, at $269.25. The daily technical situation is positive.

  • On a 4-hour horizon, however, the technical situation is rather negative with a WaveTrends and a CCI that have already given sales signals.


What to do about it?


If you are already in position, place your stop-loss above your purchase price. If you are still not in position, however, we recommend waiting for a return on the support at $260 or a $280 break before proceeding with the purchase.


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

The resistances of the day are at 272$ - 280$


Conclusion


BTC and ETH are in a consolidation configuration after a large rise. place yourself at the break of the resistance or on the rebound of the support.


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