Market Analysis of March 05, 2020

The marketcap has been moving up (+1.33) since yesterday. The total capitalization is 256 052 015 359 USD.

Bitcoin totals 162 902 737 532 USD of capitalization for a dominance of 63.60%. Ethereum’s marketcap is 25 174 300 676 USD, followed by Ripple with 10 413 339 317 USD.

Market Sentiment

HOW TO READ THE MARKET SENTIMENT ?

Bitcoin Analysis

Bitcoin closed lower in a doji shape indicating market indecision but has already risen well today and is trading around $9080.

The daily technical situation is rather positive but the MACD hasn’t crossed higher yet. On a reduced time horizon of 1h and 4h, the situation is positive!

What to do about it?

The BTC has just broken the $8969 resistance after testing it 3 times. We have to see if this resistance will become a support or not. We must also see if the resistance in the 9100$ zone will hold or not.

Stay tuned and be prepared for different scenarios.

  • The supports of the day are at 8969$ — 8500$
  • The resistances of the day are at 9100$ — 9500$

Ethereum Analysis

ETH closed higher with a doji indicating market indecision such as the BTC and is now trading around $232.

The daily technical situation is rather negative, but uncertain and with signs of bullish recovery. The technical situation is positive in 1h and 4h.

What to do?

We need to see if the $235 resistance will hold or not.

  • The supports of the day are at 217$ — 209$
  • The resistances of the day are at 235$ — 250$

Conclusion

The daily technical situation is still different for ETH and BTC.

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