Market Analysis of March 04, 2020

The marketcap has been moving up (+0.3%) since yesterday. The total capitalization is 252 682 210 013 USD.

Bitcoin totals 160 875 732 655 USD of capitalization for a dominance of 63.70%. Ethereum’s marketcap is 24 811 762 303 USD, followed by Ripple with 10 356 835 940 USD.

Bitcoin Analysis

Bitcoin closed lower, trading around $8770. It is trading in range for the moment.

The daily technical situation is rather positive, with the WaveTrends which has crossed higher and is still positive over a 4 hour time horizon.

What to do about it?

The prudent trader will wait for a test of the 8531$ Monthly Open or the 8969$ which serves as a resistance for the moment.

Ethereum Analysis

ETH closed lower, trading around $224.

The technical situation is negative and becomes uncertain over a short time horizon.

What can we do about it?

As with the BTC, ETH needs a test of its supports and resistances before positioning itself to buy or sell.

 

Conclusion

The daily technical situation is different 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.

For any information about our subscriptions, please visit our website or contact @butler_4c_bot directly to get all the information you need.

Leave a Comment

Your email address will not be published. Required fields are marked *