Macro Overview
Crypto Markets Overview
Top Tokens Update
“Big Picture: Upcoming Weeks’ Key Economic Events”
| DATE | TIME | EVENT | USUAL EFFECT |
| Mar 28 | 6:00 PM | US Final GDP q/q | Actual’ less than ‘Forecast’ is good for crypto |
| Mar 29 | 9:00 PM | US Fed Chair Powell Speaks | More dovish than expected 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’s price fell due to significant ETF outflows from GBTC, signaling bearish sentiment. Currently, BTC remains above the 50 EMA Daily but below the 20 EMA Daily, suggesting potential sideways movement ahead. Despite this, the macro trend remains bullish, with a key level to watch at $59000. Additionally, the decline in BTC dominance bodes well for altcoins once BTC stabilizes.
- Key support levels to consider are around $62,000 & $59,400 (50 EMA D). 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 faced price drops due to FUD news surrounding the ETH foundation. Although it recovered, its price action and EMAs remain choppy, indicating short-term bearishness. To establish a strong uptrend, ETH must reclaim key EMAs. ETH/BTC bounced from a key support level, which is positive for both ETH and altcoins. A continued rise in ETH/BTC is needed for sustained momentum
- Significant support levels include $3150 ,$3030, and $2900, while resistance levels to watch are at $3525, $3650 and $3780.
- 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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