Market Analysis of November 18th, 2019

Julie
Julie
Nov 18 · 2 min read

The marketcap has been moving down (-0.09%) since yesterday. The total capitalization is 233 956 881 581 USD. Bitcoin totals 154 076 200 779 USD of capitalization for a dominance of 65.90%. Ethereum’s marketcap is 20 055 952 658 USD, followed by Ripple with 11 351 325 869 USD.


Market Sentiment


Bitcoin Analysis

Although the wedge is not perfect, we can see that the price of Bitcoin is contracting more and more.

Although the indicators have crossed downward, they are in an over-sold zone, so one would expect the BTC to rise.

A break of the $8600 would be a good sign for an upward recovery. If the price goes down, it would be interesting to see the reaction at the $8,200 level.

  • The supports of the day are at 8600$ — 8300$
  • The resistances of the day are at 9150$ — 9300$

Ethereum Analysis

Although the price had broken the support of $182, the price quickly returned above this level and is currently evolving at the price of $183.40.

The technical situation is not yet positive but as long as the $182 holds, the overall situation is positive.

The first big resistance remains the $188 zone. As long as this level is not broken, the bullish trend is not yet assured.

  • 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 to wait for a breakage and retracement of the resistance zones before proceeding to purchase.


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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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