Thoughts on the crypto market on 02/03/2021

Bitcoin continued to grow during the day.

The main cryptocurrency managed to gain a foothold above 35K, local highs were reached above 36380.

At the time of writing the Review, Bitcoin is worth 36050. UPD: at the moment it is already 36800. Market capitalization is 1078 billion, dominance index is 62.2%.

The American market rose yesterday, stock indices added from 1.57% (Dow Jones) to 1.39% (Nasdaq). SPX rose 1.39% to close at 3826.31

Oil is above 57, gold dipped slightly, the volatility index dropped significantly, which indicates an increase in risk appetite.

Amazon's report came out much better than forecasts. Google also reported well. Futures on the S&P 500 are now in positive territory, and Asian indices also show growth.

The story of “Reddit vs. Wall Street” continues. Now it has moved into the market plane. Short-term funds are pushing sales, WSB are holding the line with varying success. But this is a market struggle, and not that trash with disconnecting purchases and forced closing of positions that was before. True, a weak link has appeared in the ranks of the WSB. Dave Portnoy sold shares at a loss of 700K. WSB suspects him of working on Wall Street, but I don't think so. He's just a deer.

Remember the story of how Tailor entered the crypto market? I bought Bitcoin at 12400, then the price fell to 11500, he sold in the red and announced that he was disappointed in the crypto market). It was in August, now Bitcoin is 3 times more expensive. I am for WSB. No matter how this story ends, they powerfully declared themselves, and will declare more than once. 

On the crypto market, Bitcoin has left the 32-35K range and is now trading above 36500. The next target is resistance at 37800 (there is a whole area of ​​resistance from 37300 to 37800). Perhaps the first attempt will fail and the process will take several days. Pinning above 37800 will attempt to update ATH. In case of a rebound from this area of ​​resistance, we remain in the 35K-37K range. Growth may be hampered by a high dollar index, which is at its highest values ​​since the beginning of the year. But I think the situation with him will change with the appearance of news on the aid package in the United States.

The market is still working out option 2, which was indicated as a priority.

For today, the priority option is Bitcoin in the 35000-37800 range, with an attempt to pass the 37300-37800 resistance area, the further depends on the success of this attempt. Altcoins are growing, primarily Light and Ether, XRP in suspended animation after the pump on Monday, the movement will be after the appearance of news on the court and lawsuit. 


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Category: Analytics | Views: 81 | Added by: andryvrozhkov | Tags: #Bitcoin #Bitcoin Price #BTC | Rating: 5.0/1
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