The popularity of cryptocurrencies has been unflagging in recent weeks, the entire market is worth over USD 500 billion. In daily analyses, we will look at the most popular currencies and you can use the opportunities that occur by trading on the Polish BitBay exchange.
Today we will look at the most popular currencies in the context of the last weekend and the end of the week on W1 candles.
The main player Bitcoin in the previous week recorded an increase over 11,000 and managed to close the candle above 38.2% Fibo from the last high and to overcome the downward trend line. A certain threat is the closeness of 12,500 resistance resulting from the largest correction in the downward trend, with about 10% remaining.
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In the case of ETH, the weekly increase was much smaller, barely noticeable, the weekly candle was in the range of previous so the consolidation continues. What looks positive is that price is above the body of the pinbar candle from the beginning of February, but to full happiness you need to break above the psychological level of 1000 dollars.
My attention was paid by a very strong weekly candle, with a relatively weaker market. Reaching 4-week maxima and above the 61.8 Fibo did not go unnoticed by the players. I expect return to the broken resistance, which should serve as a support and attack on maximums. Until March 14, investors’ emotions should warm up by speculation about the fork called MoneroV.