Market Analysis of November 5th, 2019

Julie
Julie
Nov 5 · 3 min read

The marketcap has been moving up (+0.69%) since yesterday. The total capitalization is 249 622 610 484 USD. Bitcoin totals 167 512 438 821 USD of capitalization for a dominance of 67.10%. Ethereum’s marketcap is 20 058 811 272 USD, followed by Ripple with 12 958 168 786 USD.


Market Sentiment


Bitcoin Analysis

The BTC broke its triangle to reach $9617 and returned to the resistance level of this triangle and the Weekly Open. It is currently evolving at the $9249 level.

From a technical point of view we see that the indicators cross-referenced downward. If Weekly support resists, then we could see the indicators cross up.

What to do about it?

For the time being, wait, if the price is supposed to rise, it is necessary to see a real rebound in the area in which the BTC is currently operating. The most logical thing for the moment is to go into a long position but with a small capital and a small stop loss because the direction is not yet sure for the moment.


Ethereum Analysis

Also a triangle break on ETH with a pullback on the resistance

The technical situation is the same, for the moment we are seeing downward crossings. If the $182 zone resists, there is a good chance that the price will increase sharply.

What to do about it?

We had the break and the pullback. A long position is possible but with a small stop loss for the moment because the direction is not yet sure for the moment.


Conclusion

BTC and ETH are still in consolidation, close to support and resistance. We do not recommend trading while they are in this position.


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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.

Julie

Written by

Julie

Chief Brand Officer at Crypto-Addicts | Content Writer about Blockchain and Cryptos |

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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