Macro Overview
Crypto Markets Overview
Top Tokens Update
“Big Picture: Upcoming Weeks’ Key Economic Events”
| DATE | TIME | EVENT | USUAL EFFECT |
| Mar 20 | 11:30 PM | US Federal Funds Rate | Actual’ less than ‘Forecast’ is good for crypto |
| Mar 20 | 11:30 PM | US FOMC Economic Projections | More dovish than expected is good for crypto |
| Mar 21 | 12:00 AM | US FOMC Press Conference | More dovish than expected is good for crypto |
| Mar 21 | 6:00 PM | US Unemployment Claims | Actual’ greater 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 initially rose due to increasing ETF inflows. However, later in the week, bearish macroeconomic data such as CPI and PPI, combined with profit selling, led to a decline. BTC is currently trading mixed, hovering around $68,000. A bullish daily close would confirm the continuation of the uptrend, with ETF inflows remaining a significant factor to watch.
- Key support levels to consider are around $65,550 & $60,700 (200 EMA 4H). On the upside, resistance levels is at $69,700 and $72700.
- 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 neutral.
- This week, ETH experienced a post-event dump following the launch of the Dencun upgrade, resulting in underperformance compared to BTC. However, ETH found support from the 20EMA D, which is crucial for maintaining bullish momentum. In the coming days, there’s an expectation that ETH will begin to outperform BTC.
- Significant support levels include $3630(20 EMA D) , $3520 (S/R Flip) , and $3385(200 EMA 4H ), while resistance levels to watch are at $3966, $4070 and $4130.
- 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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