Glassnode, in their March 7 newsletter, concluded that short-term holders seem to be selling their coins while the “long-term holder sell-side has continued to decline since Jan 2021, a signal of growing conviction in the face of high macro uncertainty.” Nigel Green, CEO of deVere Group, also voiced a bullish projection when he said that Bitcoin could reach $50,000 by the end of March.

Anthony Scaramucci, founder and managing partner of global alternative investment firm SkyBridge Capital, in an interview with Magnifi Media, said that Bitcoin was not an inflation hedge but an “early technological adoption story that is mirroring a lot of what happened in Web 1.” He projected Bitcoin to touch $100,000 within two years.

We had mentioned in our previous analysis that the bears will defend the zone between £32,382 and £34,032 aggressively and that is what happened. Bitcoin turned down from £33,987.99 on March 2 and broke below the moving averages on March 4.

Both moving averages have flattened out and the relative strength index (RSI) is near the midpoint, indicating a range-bound action in the near term. The BTC/GBP pair is likely to remain stuck between £24,450 on the downside and £34,032 on the upside.

If the price rises and sustains above the moving averages, the bulls will try to push the pair toward the resistance of the range. Alternatively, if the price breaks below £27,724.38, the bears will try to pull the pair toward the support of the range.

A break above or below the range is likely to begin the next trending move. Until then, the price action inside the range is likely to remain volatile

Lastly please check out the advancement’s happening in the cryptocurrency world.

Enjoy the issue!

– Aatex
– Asimi
– XMateFans
– bitcci
– Hubble Protocol

– Maxxer
– Nunu Psirits
– Reefer Token
– Jimizz
– Faith Tribe



We had mentioned in our previous analysis that the bears will defend the zone between £32,382 and £34,032 aggressively and that is what happened. Bitcoin turned down from £33,987.99 on March 2 and broke below the moving averages on March 4.

Both moving averages have flattened out and the relative strength index (RSI) is near the midpoint, indicating a range-bound action in the near term. The BTC/GBP pair is likely to remain stuck between £24,450 on the downside and £34,032 on the upside.   Read more


Our assumption that bears may mount a strong defence near the resistance line of the symmetrical triangle proved to be correct as Ether turned down from just below the level on March 2.

The moving averages have started to turn down once again and the RSI has dipped into the negative territory, indicating that bears have the upper hand. The ETH/GBP pair could now drop to the support line of the triangle.  Read more


The bulls made several attempts to break and sustain the price above the downtrend line but the bears did not relent. Hence, our buy suggested in the previous analysis did not trigger.

A minor positive is that the bulls are accumulating on dips to the 50-day SMA. Both moving averages have flattened out and the RSI is near the midpoint. This suggests a balance between supply and demand. Read more


Cardano continues to be in a downtrend. The price rose above the 20-day EMA on March 1 but this proved to be a bear trap. The ADA/GBP pair turned down and dropped to £0.59 on March 7.

Both moving averages are sloping down and the RSI remains in the negative territory, indicating advantage to bears. If sellers sustain the price below £0.59, the pair could drop to the strong support zone of £0.55 to £0.50.  Read more


Binance Coin broke and closed above the 50-day simple moving average (SMA) on March 1 but the bulls could not sustain the higher levels. The bears pulled the price back below the moving averages on March 4 and the BNB/GBP pair has been trading close to the 20-day exponential moving average (EMA) since then.

The flattish 20-day EMA and the RSI near the midpoint suggest a range-bound action in the near term. If bulls drive the price above the 50-day SMA, the pair could rise to the overhead resistance at £329.  Read more

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