Market Analysis of November 19th, 2019
The marketcap has been moving down (-4.60%) since yesterday. The total capitalization is 223 631 607 784 USD. Bitcoin totals 147 623 533 529 USD of capitalization for a dominance of 66.00%. Ethereum’s marketcap is 19 334 185 241 USD, followed by Ripple with 10 817 349 114 USD.
Market Sentiment
Bitcoin Analysis
The fall occurred and the reaction to the $8,200 was quickly noticed, breaking from this level to reach $8,000. Currently, the BTC is evolving at a price of $8135
Indicators are getting lower and lower and are preparing to show signs of a bullish reversal. An ascent to the resistance zone of $8,200 — $8,300 is not impossible.
What to do about it?
We advised you to see the reaction at the $8,200 level, the reaction was negative. The price is under a resistance zone for the moment, it is dangerous to return to position for the moment.
- The supports of the day are at 8000$ — 7770$
- The resistances of the day are at 8300$ — 8600$
Ethereum Analysis
The $182 level did not hold, dropping ETH to a low of $173.90. Currently, ETH is evolving at a price of $177.
For the moment, we are seeing a positive reaction from the $175 support. In addition, the indicators seem to be close to a bullish cross. It is possible to see ETH return to its resistance.
What to do about it?
A position is currently possible, but with a fairly small stop because if the price closes below $175, the situation will not be positive in the short term.
- The supports of the day are at 175$ — 170$
- The resistances of the day are at 182$ — 188$
Conclusion
The daily technical situation is negative for ETH and BTC. A possible rebound on ETH is expected, but with a small stop to avoid a bearish continuation.
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