Market analysis of May 3, 2019

Marketcap

The marketcap has been moving up (4.05%) since yesterday. The total capitalization is 183.002.742.202 USD.

Bitcoin totals 101.805.791.190 USD of capitalization for a dominance of 55.6%.

Ethereum's marketcap is 17.382.303.343 USD, followed by Ripple with 12.736.851.022 USD.

Market sentiment

How to read the Market Sentiment ?

---

Bitcoin

Big market movement since our last update. The BTC directly broke its resistance of 5500$. This level corresponded in particular to the retracement of the 78.60% of Fibonacci.

What is the current situation?

• The BTC has not weakened, quite the contrary! The alts also turned around and followed the BTC's upward movement

What to do about it?

If you are already in position, place your stop-loss under $5,500. If you are not yet in position, we advise you to wait for a return on the 5500$ support before re-evaluating the situation. In case of a continued increase, the next resistance is at the upper limit of the bullish channel in which we have been since the beginning of April: around 5810-5845$

The supports of the day are at 5500$ - 5350$

The resistances of the day are at 5845$ - 5900$

---

Ethereum

ETH/USD follows the BTC in its bullish trend. In the daily chart, we can see that ETH would seem to be in an rising wedge. It could therefore go and re-test its upper resistance around $195.

To do this, it would first have to hit back its previous top at 187 dollars.

What to do about it?

If you are already in position, place your stop sign below the 23.60% of Fibonacci, which corresponds to $162. In the case of an increase to $187, a resistance to $174.25 is possible.

The supports of the day are located at 162$ - 157$

The resistances of the day are to 174$ - 187$

---

Conclusion

BTC: Bitcoin is on an upward trend and is testing its resistance again. If you are already in position, place your stop-loss under $5,500. If you are not yet in position, we advise you to wait for a return on the 5500$ support before reassessing the situation. In case of a continued increase, the next resistance is at the upper limit of the bullish channel in which we have been since the beginning of April: around 5810-5845$

ETH: Ethereum is also on an upward trend and is testing its resistance again. If you are already in position, place your stop sign below the 23.60% of Fibonacci, which corresponds to $162. In the case of an increase to $187, resistance to $174.25 is possible.

---

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!