Market Analysis of November 13th, 2019
The marketcap has been moving down (-0.05%) since yesterday. The total capitalization is 240 525 470 053 USD. Bitcoin totals 158 625 390 379 USD of capitalization for a dominance of 66.00%. Ethereum’s marketcap is 20 251 274 104 USD, followed by Ripple with 11 843 686 811 USD.
Market Sentiment
Bitcoin Analysis
An attempt to pass the $8800 took place and was quickly rejected. Despite this, the price rose slightly again.
For the moment, there is no guarantee that the price will really rise. The bullish divergence has still not been activated, it could bring the price to around $9000 but it is necessary to see a fence above $9,150 to no longer think about seeing the price lower.
Be careful, it is not advisable to go back into position for the moment, wait for a return of $8,200 — $8,300 or a break of $9,150 is necessary.
- The supports of the day are at 8600$ — 8300$
- The resistances of the day are at 9150$ — 9300$
Ethereum Analysis
ETH came back to test the $182 and bounced back to that level. Currently, ETH is evolving at a price of $186.90.
The first resistance of ETH is the 188$ but to resume an upward trend in the medium term it is necessary to see a break of 193$.
A return to the $175–180 zone is still possible and we recommend that you wait for a return to this zone before initiating a long position or a $193 break.
- The supports of the day are at 182$ — 170$
- The resistances of the day are at 188$ — 193$
Conclusion
The daily technical situation is negative for ETH and BTC, so we recommend waiting for a return to support areas before opening a long position.
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