Macro Overview
Crypto Markets Overview
Top Tokens Update
“Big Picture: Upcoming Weeks’ Key Economic Events”
| DATE | TIME | EVENT | USUAL EFFECT |
| Mar 12 | 6:00 PM | US CPI (Monthly and yearly) | Actual’ less than ‘Forecast’ is good for crypto |
| Mar 14 | 6:00 PM | US PPI m/m | Actual’ less than ‘Forecast’ is good for crypto |
Note: “Events in red font signify severe impact, while those in yellow indicate moderate.”
Bitcoin Technical Analysis
Summary:
- The current sentiment around BTC is neutral.
- This week, BTC reached an all-time high, surpassing $69,000 in futures trading, albeit experiencing a rapid drop to $59,000 before rebounding. Currently, it’s holding above $67,000, supported by the 50EMA on the 4H chart, signaling stability. Additionally, decreasing funding rates are seen as positive indicators for BTC.
- Key support levels to consider are around $65,550 & $64,000 (50 EMA 4H). On the upside, resistance levels is at $69,000.
- It is advisable to evaluate potential entry points around the mentioned support levels for long entries and at resistance levels for short entries. Additionally, setting limits to manage potential losses is prudent.
- For profit-taking, strategically selling near the outlined resistance levels/support levels is a recommended approach. Always exercise caution and implement sound risk management practices in trading endeavors.
Ethereum Technical Analysis
Summary:
- The current sentiment around ETH appears bullish .
- This week, ETH outperformed BTC due to several factors: the delay of the ETH ETF and increasing ETH staking. Historical data indicates that ETH has typically delivered positive returns in Q2 over the past 7 out of 8 years, suggesting it may continue to outperform BTC in the coming weeks and months. Additionally, the final deadline for the ETH spot ETF is in May. From a technical perspective, ETH needs to clear the $3900 level to potentially move higher.
- Significant support levels include $3775(20 EMA 4H) , $3520 (S/R Flip) , and $3250, while resistance levels to watch are at $3966, $4130 and $4770.
- These levels play a crucial role in determining potential price movements. It is advisable to evaluate potential entry points around the mentioned support levels for long entries and at resistance levels for short entries. Additionally, setting limits to manage potential losses is prudent.
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