Market Analysis of December 4th, 2019

Sylvain
Sylvain
Dec 4 · 2 min read

The marketcap has been moving down (-0.84%) since yesterday. The total capitalization is 195 450 719 252 USD.

Bitcoin totals 130 425 479 854 USD of capitalization for a dominance of 66.6%. Ethereum’s marketcap is 15 908 098 023 USD, followed by Ripple with 9 245 389 418 USD.



Bitcoin Analysis

The price dropped to the bottom of the liquidity range, reaching a low of $7085.

Currently the price is bouncing back and trying to break the $7200. However, there is still some liquidity around $7,000 that could allow a better rebound if the $7,200 is not broken.

From a technical point of view, the indicators are starting to show signs of a bullish turnaround in the medium term, so it is possible to expect a positive reaction in the coming hours/days.

What to do about it?

Wait and see!

  • The supports of the day are at 7000$ — 6800$
  • The resistances of the day are at 7800$ — 8000$

Ethereum Analysis

The old resistance of the inverse head and shoulders reacts well as a support for the moment and it seems that a new test has been carried out on this new support.

From a technical point of view, the situation is the same as for the BTC, the indicators are beginning to show signs of reversal in the medium term.

  • The supports of the day are at 143$ — 140$
  • The resistances of the day are at 146$ — 157$

Conclusion

Wait and see if BTC and ETH are bullish, then place your stop loss


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Sylvain

Written by

Sylvain

Business Developer at 4C Trading| Experienced Writer about Blockchain and Cryptos | Cryptography passionate.

4C-Trading

4C-Trading is a team of professional market analysts, lawyers and marketing veterans with years of experience in the cryptocurrency and financial markets. We provide qualitative signals, information, analytics and advice on cryptocurrencies.

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