The marketcap has been moving up (+4.48%) since yesterday. The total capitalization is 280.095.086.810 USD.
Bitcoin totals 154.634.231.014 USD of capitalization for a dominance of 55.20%.
Ethereum's marketcap is 184.108.40.2063 USD, followed by Ripple with 19.491.019.565 USD.
The Bitcoin still evolves under its resistance zone at $8,800 with a rather negative technical situation. Indeed, the WaveTrends has already given a sell signal while the MACD seems ready to cross downward. In addition, a downward divergence is visible on the CCI.
What is the current situation?
If we analyze the last 3 candlesticks, we find that two of them were hanged while the one of May 27 was closed with an inverted hammer.
As I often repeat, technical analysis is not an exact science, so the BTC may explode upward, but the technical context calls for caution.
What to do about it?
If you are in position, a stop-loss below the $8,400 level is your best option, otherwise wait until the $8,800-$9,000 zone is broken before positioning yourself for the buy.
The supports of the day are at 8500$ - 8300$
The resistances of the day are at 8800$ - 9000$
The technical situation of ETH is somewhat different from that of Bitcoin. Indeed, ETH has broken its major resistance at $280 while BTC is still below $8800.
So there are two possibilities, either the Ethereum is ahead of BTC and in this case no problem, the increase should continue towards the $300 level or the BTC is ahead of ETH and we could then expect a decrease.
The technical situation is quite neutral on ETH with overbought indicators but still positive. The daily closing will therefore be extremely important for the future development of ETH.
What to do about it?
If you are already in position, place your stop-loss above your purchase price. If, on the other hand, you are still not in position, we recommend waiting for the daily close, if ETH manages to stay above $280, a long position can then be initiated on retracement.
The supports of the day are at 280$ - 272$
The resistances of the day are at 300$ - 320$
BTC: Bitcoin is currently under its next resistance. We advise you to place yourself at the break of the resistance zone.
ETH : Ethereum is located just above its support. We recommend that you place yourself in the shopping cart if the session closes above $280.
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See you tomorrow for a new market analysis!