Market Analysis of March 5th

The marketcap has been moving down (-6.02%) since yesterday. The total capitalization is 1 439 029 619 830 USD.

Bitcoin totals 879 354 631 737 USD of capitalization for a dominance of 60.7%. Ethereum’s marketcap is 167 429 524 105 USD, followed by Tether with 36 384 629 636 USD.

Market Sentiment

Latest Crypto Fear & Greed Index

Bitcoin Analysis

The BTC closed lower, trading around $47500.

The daily technical situation is rather negative and remains rather negative in 4 hours.

What to do about it?

 The best thing to do is to wait for a better entry point. On retracement, most likely around $40000

  • The supports of the day are at 40000$ — 45000$
  • The resistance of the day is at 50000$

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Ethereum Analysis

This is the same story for ETH, trading around $1465 at the time of writting these lines.

The daily technical situation is rather negative and remains negative in 4 hours.

What to do about it?

 

The best thing to do is to wait for a better entry point.

  • The supports of the day are at 1450$ — 1290$
  • The resistance of the day is at 1520$

Conclusion

We have to wait for a better entry point for ETH and BTC.


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