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.



The daily technical situation is different for ETH and BTC.

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