The marketcap has been moving down (-1.77%) since yesterday. The total capitalization is 179.439.898.680 USD.
Bitcoin totals 100.406.710.396 USD of capitalization for a dominance of 56%.
Ethereum's marketcap is 17.010.580.868 USD, followed by Ripple with 12.515.660.687 USD.
As announced the day before, the trend was rather bearish and indeed, after making a double top, BTC started to decrease to reach a low point at the level of $5562.
What is the current situation?
Technically speaking, the price of BTC could decrease further towards the 5500$ zone. If this level holds up, we could see the price rise again and test the $5800 zone again.
However, if the support of the 5500$ is broken, the lower levels expected are first the 5350$ then the 5250.
What to do about it?
If you are still in position, place your stop-loss under $5600. If you are not yet in position, we recommend to wait either: a return to around 5500$ with confirmation of rebound or wait for the lower levels or a confirmed break of 5800$.
The supports of the day are at 5500$ - 5350$
The resistances of the day are at 5845$ - 5900$
In the short term, ETH is in a triangle whose support is at the $157 level. If this support continues, we could see an increase in the volume and if the volume follows we could see ETH reach the $166 level. However, if the support is broken, the lower level is $150.
The supports of the day are located at 157$ - 150$
The resistances of the day are to 166$ - 172$
BTC: Bitcoin is in a downward trend in the short term. 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 support at $5500 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: Like Bitcoin, Ethereum is in a downward trend in the short term. If you are already in position, place your stop sign below $150. If not, wait for a return on the $157 support before reassessing the situation.
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!