Market analysis of July 1, 2019
The marketcap has been moving up (+0.30%) since yesterday. The total capitalization is 3126.96.36.1991 USD.
Bitcoin totals 197.631.229.738 USD of capitalization for a dominance of 61.4%.
Ethereum’s marketcap is 31.755.758.674 USD, followed by Ripple with 17.465.234.465 USD.
How to read the Market Sentiment?
This weekend, we saw some big movements on the BTC. After reaching the low point at the $11,300 level, the BTC rose to a high point at the $12,447 level. After this top, the BTC dropped to a low point at a price of $10606.
Since May 12, an important line is the BTC, which represents a high level of support and resistance. We can see that this line was once again tested when it fell to around $10606. As long as this oblique support is maintained, we can still see the BTC reach high points.
What to do about it?
If you are in position, place your stop-loss above your purchase price. If you are not in position yet, wait for a $11700 breakage. If the price starts to fall, we advise you to wait for the price reaction to lower supports ($10,400 – $9400 – $8800)
- The supports of the day are at 10400$ – 9400$
- The resistances of the day are at 11700$ – 12400$
ETH remains strongly correlated to BTC. So like the BTC, ETH has returned to a low point at the $285 level.
Currently, ETH is at $298 under the resistance of $300.
A confirmation of a breach of the $300 level would be a bullish sign for ETH.
- The supports of the day are at 280$ – 262$
- The resistances of the day are at 300$ – 320$
BTC: Bitcoin has bounced off its oblique support. We recommend that you wait for a return to the support or a break in the $11,700 resistance.
ETH: Ethereum is under his $300 resistance. We advise you to wait for a return on the support or a breakage of the $300 resistance.
See you tomorrow for a new market analysis ! 🚀