Yesterday, the central bank’s hopes for the stock markets gave me great joy due to the fact that their worst results over the past ten years have increased the weekly tide.
Cryptocurrency markets, which have a solid start to the week and have gained close to $ 15 billion, also gained $ 240 billion since yesterday. Currently, total capitalization is over $ 250 billion and hopes of a myth revival are beginning to emerge in the cryptosphere.
BITCOIN CLOSES IN ON $9,000
Yesterday, BTC made serious progress, rising from a minimum mark of $ 8,400 to $ 9,000, but not reaching the mark, Tradingview.com reports.
The 3% increase in assets returned more than $ 8,800 to overcome resistance at the 200-hour moving average. It is now trading above the 200-day moving average and is moving toward the 50-day moving average. which is about $ 9,150.
Cryptocurrency traders and analysts are looking for chart models, and each of them has defined a head and shoulders where the right shoulder can be higher.
BTC chart 1 hour – Tradingview.com
A potential head and shoulders formation with the target at ~6100$.
Considering the 9150$ as a level of the previous support/resistance zone, the right shoulder might top there. $BTC $BTCUSD #bitcoin $XBT pic.twitter.com/ymqfevpneA
— CryptoHamster (@CryptoHamsterIO) March 3, 2020
It is projected to be just over $ 6,000. Extremely extreme, and it is likely that with $ 8300 you will receive strong support to break first.
In any case, Bitcoin is doing its job and seems to be currently correlating with the stock markets. In the future, huge profits are expected to be halved, according to inventory and flow models.
ELSEWHERE ON CRYPTO MARKETS
As usual, the remaining digital feats reflected the pricing behavior of their older brother, and some brought even greater profits.
Ethereum returned to resistance at $ 230, moving 5% per day. It is likely to change again if BTC can win $ 9,000 today.
XRP Ripple took some action, adding 3.5%, while BCH - 6%, and BSV - 9%. Litecoin again exceeded $ 60, while EOS and BNB rose 3% that day.
Tezos fell 5% to $ 2.75, while Chainlink rose another 9% to $ 4.25. These gains are a natural comeback after a hard week, so there's nothing to worry about.
The real test will be bitcoins, which should exceed $ 9 thousand. For any hope, the rally will resume.