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Market Analysis of March 31, 2020

The marketcap has been moving up (+3.59%) since yesterday. The total capitalization is 188 492 092 847 USD.

Bitcoin totals 118 531 619 540 USD of capitalization for a dominance of 65.30%. Ethereum’s marketcap is 14 673 685 222 USD, followed by Ripple with 7 611 775 739 USD.

Market Sentiment

HOW TO READ THE MARKET SENTIMENT ?

Bitcoin Analysis

After having reached a high point around 6650, the BTC has fallen slightly and now stands at 6460 in a context of a technical situation 4h and daily again positive

Does that mean we’re buying?

No, a little more patience, we will only open a long position if the 6900 breaks. A break of this level would indeed mark a higher high and validate a bullish reversal structure.

  • The supports of the day are at 6300$ — 5900$
  • The resistances of the day are at 6900$ — 7400$

Ethereum Analysis

The same goes for the Ethereum, we have a suite of higher lows, which is obviously quite positive. However, we don’t have a higher high yet because ETH seems to evolve in a kind of symmetrical triangle.

We will therefore wait for ETH to break its resistance zone between 146.4 and 154.7 before opening a buy position.

  • The supports of the day are at 124.25$ — 116$
  • The resistances of the day are at 146.4$ — 154.7$

Conclusion

BTC and ETH under a zone of high resistance. We will await the reaction as these levels approach. A rejection would be synonymous with future short opportunities, which we will be sure to share with you!

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Newsflash of March 27-03-20

Market Cap at 9:00 (UTC) – $187,358,897,454

Bitcoin dominance: 65.6 % 

BTC $6 722.4 (+1.42%)

ETH $138.19 (+1.74%)

XRP $0.173710 (+7.77%)

US House Democrat planning to create digital dollar

On March 22nd, 2020, the US House Democrat published a bill (https://financialservices.house.gov/uploadedfiles/waters_146_xml_03.23.2020.pdf) proposing the idea of creating digital dollar. Per the bill, the US House Democrat wants to provide financial protections for US consumers and businesses during Covid-19 pandemic. Moreover,the bill requires Federal Reserve, financial institutions and IRS to create a digital dollar wallet. However, it is unclear which technology will be used to create the digital dollar.

Brave partners with Binance

Brave has recently partnered (https://brave.com/binance/) with Binance to add new features for their browser. Through the partnership, Brave integrated Binance trading directly into the browser. Brave users can now trade, deposit, and manage cryptos on their browser.

That’s it for today.

Stay safe and happy trading.

Yours,

4C-Trading

You can join us on Telegram for a follow-up of the market throughout the day.

For any question, our team will be happy to answer you on our support which is open 7/7 days. For any information about our subscriptions, please visit our website or contact @butler_4c_bot directly to get all the information you need.


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Market Analysis of March 24, 2020

The marketcap has been moving up (+15.12%) since yesterday. The total capitalization is 188 492 092 847 USD.

Bitcoin totals 124 054 731 883 USD of capitalization for a dominance of 65.80%. Ethereum’s marketcap is 15 552 841 886 USD, followed by Ripple with 7 133 981 109 USD.

Market Sentiment

HOW TO READ THE MARKET SENTIMENT ?

Bitcoin Analysis

The BTC closed higher and is trading around $6700. Its dominance increases to 65.8%.

The daily technical situation is positive and remains positive in 4 hours.

What to do about it?

It would take a test and break of $7000 to hope for a return above $7400.

  • The supports of the day are at 6650$ — 6200$
  • The resistances of the day are at 7000$ — 7400$

Ethereum Analysis

ETH closed higher, trading around $140.9.

The daily technical situation is positive and remains positive in 4 hours.

What to do?

We would need a higher high and a test of the $153 resistance, if the resistance breaks, a long one can be launched.

  • The supports of the day are at 136$ — 123$
  • The resistances of the day are at 153$ — 170$

Conclusion

The daily technical situation is positive for ETH and BTC.

You can join us on Telegram for a follow-up of the market throughout the day.

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Market Analysis of March 23, 2020

The marketcap has been moving down (-7.22%) since yesterday. The total capitalization is 106,381,271,566 USD.

Bitcoin totals 106,381,271,566 USD of capitalization for a dominance of 65.00%. Ethereum’s marketcap is 13 539 781 684 USD, followed by Ripple with 6,578,828,077 USD.

Market Sentiment

HOW TO READ THE MARKET SENTIMENT ?

Bitcoin Analysis

The BTC closed lower and is now trading around $5,820.

However, the daily technical situation is positive but negative over a 4-hour time horizon.

What to do about it?

Well we have to wait for a support or resistance test before going short or long.

  • The supports of the day are at 5650$ — 5000$
  • The resistances of the day are at 6200$ — 6650$

Ethereum Analysis

ETH closed lower, trading around $123.

The daily technical situation is positive but becomes negative in 4 hours.

What can we do about it?

ETH is above a support and will be interesting to watch today. Prepare your different scenarios.

  • The supports of the day are at 123$ — 100$
  • The resistances of the day are at 136$ — 153$

Conclusion

The daily technical situation is positive for ETH and BTC but negative on a shorter horizon.

You can join us on Telegram for a follow-up of the market throughout the day.

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Newslash of March 21, 2020

Market Cap at 8:30 (UTC) – $171,470,882,685

Bitcoin dominance: 65.1% 

BTC $ 8,162.83 (-5.82%)

ETH $175.10 (-9.13)

XRP $0.257316 (-6.72)

Russia’s Central Bank said it couldn’t ban Bitcoin

According to a local report (https://www.interfax.ru/interview/699260), Russia’s Central Bank Director, Alex Guznov said that it is not possible to forbid Bitcoin and cryptocurrencies from being used.

Bitfinex removed a large number of trading pairs

Per the blog (https://www.bitfinex.com/posts/466), Bitfinex will remove 87 trading pairs to improve liquidity on 26th, Mar, 2020.

That’s it for today.

Stay safe and happy trading.

Yours,

4C-Trading

You can join us on Telegram for a follow-up of the market throughout the day.

For any question, our team will be happy to answer you on our support which is open 7/7 days. For any information about our subscriptions, please visit our website or contact @butler_4c_bot directly to get all the information you need.

Market Analysis of March 20, 2020

The marketcap has been moving up (+23%) since yesterday. The total capitalization is 190 720 881 178 USD.

Bitcoin totals 124 391 832 606 USD of capitalization for a dominance of 65.10%. Ethereum’s marketcap is 16 517 073 657 USD, followed by Ripple with 7 569 781 799 USD.

Market Sentiment

HOW TO READ THE MARKET SENTIMENT ?

Bitcoin Analysis

The BTC closed higher and is trading around $6800.

The daily technical situation is similar to ETH, rather positive and stays positive in 4 hours.

What to do about it?

If the BTC continues to rise we can hope for a test of 7200 or even 7500. Place well your new supports and resistances.

  • The supports of the day are at 6000$ — 5650$
  • The resistances of the day are at 7500$ — 7900$

Ethereum Analysis

ETH closed higher, trading around $149.

The daily technical situation is rather positive, the MACD is poised to cross higher, but is quite positive over a 4 hour time horizon.

What can we do?

We need to review the supports and resistances. The situation remains positive, but we need to exceed 153 to remain bullish.

  • The supports of the day are at 136$ — 123$
  • The resistances of the day are at 153$ — 175$

Conclusion

The daily technical situation is positive for ETH and BTC

You can join us on Telegram for a follow-up of the market throughout the day.

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Market Analysis of March 19, 2020

The marketcap has been moving up (+5.1%) since yesterday. The total capitalization is 154 934 337 723 USD.

Bitcoin totals 100,206,556,971 USD of capitalization for a dominance of 64.30%. Ethereum’s marketcap is 13 292 360 764 USD, followed by Ripple with 6,527,571,831 USD.

Market Sentiment

HOW TO READ THE MARKET SENTIMENT ?

Bitcoin Analysis

The BTC closed higher and is trading around $5680.

The daily technical situation is rather positive and the rest over a 4-hour time horizon.

What to do about it?

The situation becomes positive again but we must remain cautious. We have the formation of an ascending triangle in 4 hours, if it breaks on the upside, we must wait for a close above for confirmation and have a bullish scenario.

  • The supports of the day are at 4350$ — 3596$
  • The resistances of the day are at 5650$ — 6000$

Ethereum Analysis

ETH closed higher in hammer form and is now trading around $124.

The daily technical situation is rather positive and the rest in 4 hours.

What can we do about it?

It is advisable to wait until ETH closes above $123 in 4 hours to hope for a test of $136.

  • The supports of the day are at 100$ — 85$
  • The resistances of the day are at 123$ — 136$

Conclusion

The daily technical situation is rather positive for ETH and BTC.

You can join us on Telegram for a follow-up of the market throughout the day.

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Market Analysis of March 18, 2020

The marketcap has been moving down (-1.46%) since yesterday. The total capitalization is 147 418 880 516 USD.

Bitcoin totals 93,586,482,654 USD of capitalization for a dominance of 63.50%. Ethereum’s marketcap is 12 391 041 633 USD, followed by Ripple with 6 281 472 420 USD.

Market Sentiment

HOW TO READ THE MARKET SENTIMENT ?

Bitcoin Analysis

Bitcoin closed higher, trading around $5124. The BTC is struggling to break above $5600.

The daily technical situation is rather negative but with signs of bullish recovery.

What to do about it?

If the BTC stays at this level, the scenario will be bearish.

  • The supports of the day are at 4350$ — 3596$
  • The resistances of the day are at 5650$ — 6000$

Ethereum Analysis

ETH closed higher in inverted hammer form and is trading around $112.

The daily technical situation is negative, and remains rather negative under a time horizon of 4 hours.

What can we do about it?

The situation is still uncertain, the cautious trader will stay away from ETH for now.

  • The supports of the day are at 100$ — 85$
  • The resistances of the day are at 136$ — 123$

Conclusion

The daily technical situation is negative for ETH and BTC.

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Market Analysis of March 17, 2020

The marketcap has been moving down (+12.35) since yesterday. The total capitalization is 149 597 574 006 USD.

Bitcoin totals 95 899 693 337 USD of capitalization for a dominance of 63.80%. Ethereum’s marketcap is 12 758 682 696 USD, followed by Ripple with 6 462 618 564 USD

Market Sentiment

HOW TO READ THE MARKET SENTIMENT ?

Bitcoin Analysis

The BTC closed lower with a hammer-shaped candle and is trading around $5248.

The daily technical situation is negative but we have a WaveTrends that just crossed higher.

What to do about it?

We have signs of recovery but we must wait for a confirmation before being able to position ourselves!

  • The supports of the day are at 4350$ — 3596$
  • The resistances of the day are at 5650$ — 6000$

Ethereum Analysis

ETH closed lower, trading around $116.

The daily technical situation is negative but becomes positive over a short time horizon.

What to do?

The situation is still quite uncertain. We have to wait for a test of the supports and resistances.

  • The supports of the day are at 100$ — 85$
  • The resistances of the day are at 123$ — 136$

Conclusion

The daily technical situation is negative for ETH and BTC but we can see a start of recovery. 

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Market Analysis of March 16, 2020

The marketcap has been moving down (-13.34%) since yesterday. The total capitalization is 133 153 316 277 USD.

Bitcoin totals 87 185 767 683 USD of capitalization for a dominance of 63.90%. Ethereum’s marketcap is 11 900 469 568 USD, followed by Ripple with 6 030 218 455 USD.

Market Sentiment

HOW TO READ THE MARKET SENTIMENT ?

Bitcoin Analysis

Bitcoin closed higher with an inverted hammer but after a further drop today it is trading around $4600.

The daily technical situation is still negative and remains rather negative in a reduced time horizon.

What to do about it?

The situation remains uncertain and volatility is high. The cautious trader will stay away from the BTC for the time being.

  • The supports of the day are at 4350$ — 3596$
  • The resistances of the day are at 4950$ — 5650$

Ethereum Analysis

ETH also closed higher in the form of an inverted hammer but has since dropped to around $108.

The daily technical situation is negative and remains rather negative even in a short time frame.

What can be done?

The situation is too uncertain for any prudent trader. Observation is still the best thing to do.

  • The supports of the day are at 100$ — 85$
  • The resistances of the day are at 123$ — 136$

Conclusion

The daily technical situation is negative for ETH and BTC.

You can join us on Telegram for a follow-up of the market throughout the day.

For any question, our team will be happy to answer you on our support which is open 7/7 days.

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