I Kriptokoin.co UzBitcoin is a nine-day period when we look at it does not have a clear trend. This situation neutralizes the appearance of a bull with a long-tailed doji candle formed on 27 February. As a result, we would like to remind you that the return to levels below $ 3,700 cannot be ignored.
- Rising above March 9th, the highest level of US $ 3,950, UTC will revive its short-term upward trend and likely increase to $ 4,190 USD.
- Although several alternative crypto currencies (altcoins) have recently witnessed a longer-term bullish rise, the altcoin market as a whole has not yet come out of the bear market. However, as the vendor increases symptoms of exhaustion, this situation may also change.
- A bull break in the Altcoin market will be confirmed if the overall value of the overall subcoin market exceeds the value of 64.28 Billion dollars, which is the resistance that shows the long-term bearish trend line.
- Bitcoin's directing struggle continues in alternate crypto currencies due to the reversal of a bull.
- In terms of market value, the leading crypto currency continues to fluctuate between $ 3,800 to $ 3,900 despite nine days. These values contradict the last high level proposed by the long-tailed doji wax on February 27, which cost $ 4,190. Hence the instant landscape is in neutral condition.
At the time of writing, Bitcoin continues to trade at $ 3,923 with an increase of 0.43%.
In addition, Bitcoin gained 4% from the beginning of the year to the present. For example, Litecoin, whose market value is the fourth largest crypto currency, has now increased by 83.9% since the beginning of the year.
After recent increases, Binance Coin (BNB) and Holochain (HOT) each increased by at least 140 percent, while EOS and Ontology (ONT) increased by 40 percent and 69 percent, respectively.
Meanwhile, both the BTC and the LTC, BNB, Tron (TRX) and Maker (MKR) rates in dollars have been widely accepted on the 200-day moving averages (MA), which are widely viewed as a bull / bear market barometer.
As a result, the speculation that the sub-market has entered the bull market is rapidly increasing. However, although several alternative crypto currencies seem to have witnessed bull rise, the altcoin market as a whole shows a downward trend as seen in the table below.
Altcoin Market Value
On the weekly chart, the total market value of the subcoins fell by nearly $ 45 billion at the beginning of February, indicating the depletion of the decline. However, the trend line, which links the highest levels of January 2018 and April 2018, is still intact.
The weekly closing of the trend line support point of $ 64.28 Billion can be considered as an early sign of the long-term upward trend.
However, the trend change from bear to bull outlook will be approved if it rises above the lowest high of $ 68.61 billion on December 24th.
Bitcoin's Daily Chart
The weekly price consolidation between US $ 3,800-3,900 in the above table weakened the bullish tide proposed by the long-tailed doji wax formed on February 27th. As a result, 100-day MA support can be effective again at $ 3,670.
In order to revive the short-term upward trend, higher than $ 3,950 is required.
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