Market Analysis of November 19th, 2019

Julie
Julie
Nov 19 · 3 min read

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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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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