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The decrease in capitalization by the end of the week: analysis of the cryptocurrency market

Market capitalization of crypto-currencies almost completely lost all its gains of last week. At the moment it is $212 billion, slightly more than last Monday — $210 billion High of last week occurred on Wednesday, November 7, when the capitalization reached $220,8 billion Figure “dominance Bitcoin” also retreated from its month low and currently amounts to 52.5%.

Снижение капитализации к концу недели: анализ рынка криптовалют

Figure 1. – Heat map list of coins the TOP 20 for the period of last week

Bitcoin is the first cryptocurrency demonstrated a very moderate growth in the area of 1.0% from last week. A negative factor for him is the reduction of open contracts in futures on the CBOE stock exchange. Their number was reduced from 3615 to 3465. It is noteworthy that there was a significant reduction of long positions by large players, which ultimately led to an increase in net short positions 1077 to 1,248 contracts.

Снижение капитализации к концу недели: анализ рынка криптовалют

Figure 2. – The dynamics of BTCUSD (H4)

Support made sloping level from which the asset has repeatedly fought back. On the four-hour chart the nearest resistance level will be the exponential moving average with period EMA, 100 and 50.

Oleg Sergeyev, an analyst at TSI Analytics, especially for Bitjournal

The review reflects the subjective position of the analyst, partners BitJournal, taking into account personal trading style. Trading operations with cryptocurrency are increased risks due to the nature of the market. The editors are not responsible for your trading decisions and recommends trading only to those funds, the loss of which would not impact critically on your budget.

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