Bitcoin is still below its 50-day moving average as bulls struggle to hit the $40,000 mark

On the 7th of March, the bulls flipped an initial bearish start to the market, flipping the market in their favor as indicated by the wick below the candle, which also denotes the lowest Bitcoin trading price for the day at $37,577 per coin. With the bullish domination of the market, the bulls have influenced a 0.857% rise in the Bitcoin price, bringing the price of each coin to $38,735. The chart also illustrates a slight bearish resistance to further bullish action as indicated by the wick above the candle, denoting the highest coin price seen so far at $38,773.

Indicators

The Bitcoin market remains bearish, as indicated by the relative strength index below 50. On the 5th of March, the bullish action resulted in a rise of the RSI to 46.24. With the bearish dominance on the 6th of March, we see a fall in the relative strength index to 43.72. With the bullish start to the 7th of March, we see a rise in the relative strength index to 44.76.
In correlation with other indicators, the MACD remains below the zero line, indicating a negative outcome for the asset, while the histogram shows bearish intensity in the market.

Buy and sell BTC on Remitano

Ethereum / US Dollar

As with the Bitcoin market, the Ethereum market remains below its 50-day moving average of $2,794 per coin; however, the chart also shows a contested bullish action On the 5th of March, with the bulls influencing a 1.63% rise in the ETH price, translating to $2,665 per coin. The wick above the candle denotes a bearish attempt at diminishing the gains seen in the market for the day, placing the highest trading price of ETH at $2,685 per coin, while the lowest ETH trading price for the day stands at $2,589 per coin.
With the bearish dominance of the market on the 6th of March, the bears influenced a 4.31% drop in the ETH price, bringing the price of each coin to $2,550. The chart also illustrates the bullish rejection of further bearish action. They attempted to minimize the losses seen on the day, indicated by the wick below the candle and placing the lowest price of Ethereum for the day at $2,536 per coin.
At the start of the 7th of March, we see the bulls reignite their previous momentum, resulting in a bullish dominance of the market at its start with a little bearish resistance; with the bullish move for the day, the Ethereum price is up by 0.65%, bringing its price to $2,567. Nevertheless, the highest and lowest ETH trading price for the day stands at $2,573 and $2,489, respectively.

Indicators

The ETH relative strength index remains below 50, indicating overall bearish dominance. On the 5th of March, the bullish action resulted in a rise of the RSI to 44.44. With the bearish start to the 6th of March, we see the relative strength index fall to 40.96. On the 7th of March, continued bullish action sees the RSI rise to 41.61.
The histogram and MACD remain below the zero line, indicating bearish dominance of the market and a negative outlook for the asset.

Buy and sell ETH on Remitano

Ripple / US Dollar

From the above chart, we see the Ripple market above its 50-day moving average of $0.721 as the bulls succeeded in bringing the market back above its 50-day moving average.
The bulls initiated a move on the 5th of March, resulting in a 5.85% rise in the Ripple price, translating to $0.754 per coin. The wick below the candle means the bulls flipped an initial bearish move which also denotes the lowest Ripple trading price for the day at $0.705 per coin, while the highest trading price of Ripple for the day stood at $0.769 per coin.
At the start of the 6th of March, the bears gained a head start to dominate the market, resulting in a 3.94% drop in the Ripple price, translating to $0.724 per coin with the highest and lowest trading prices achieved at $0.758 and $0.721, respectively.
At the start of the 7th of March, we see the bulls initiate a momentum following the bearish dominance of the previous day. The Ripple market is up by 3.10%, translating to $0.746 per coin with this move. However, with the market still in its early hours, we could see more volatility. Nevertheless, as at the writing of this analysis, the highest and lowest price points stand at $0.754 and $0.707, respectively.

Indicators

The relative strength index is seen attempting to get back in the bullish territory as it stands below the 50 mark. The current momentum places the market in control of the bears, and the relative strength index on the 5th, 6th, and 7th of March stand at 50,47, and 49, respectively. The MACD and histogram illustrate bearish entry into the market in correlation to the RSI. They maintain a level below the zero line, reflecting the bearish action seen in the market.

Buy and sell XRP on Remitano

Litecoin / US Dollar

The above chart shows that the Litecoin market remains in bearish control as it remains below its 50-day moving average of $116 per coin.
The bulls initiated a move on the 5th of March, resulting in a 3.81% rise, bringing the LTC price to $104 per coin. With the continued struggle for market dominance, we see the highest and lowest price points achieved for the day at $105 and $99, respectively.
On the 6th of March, the bears reignited their momentum together with bullish resistance. With the bearish dominance of the market, the bears influenced a 3.62% drop, bringing the LTC price to $101 per coin. At the start of the 7th of March, we see the bulls initiate a momentum after flipping an initial bearish start to the market and influencing a 0.54% rise in the LTC price, translating to $101.65 per coin, while the highest and lowest price points seen in the market stand at $101.88 and $98, respectively. With much time left to the close of the market for the day, these values are subject to change due to volatility.

Indicators

The relative strength index indicates a market in bearish control with its relative strength index value below the 50 mark. On March 5th, 6th, and 7th, the relative strength index shows dominant bearish activity in the market, corresponding to 42, 39, and 42, indicating dominating bearish activity.
In correlation to the RSI, we see increasing bearish activity in the MACD and histogram, reflecting bearish dominance over the market and, with these indicators below the zero line, a bearish outlook for the asset.

Buy and Sell LTC on Remitano

Bitcoin Cash / US Dollar

As with several other crypto assets over the last three days, the Bitcoin Cash market remains in bearish control as it trades below its 50-day moving average of $313 per coin.
On the 5th of March, the bulls initiated a momentum following extensive bearish action over the previous days after flipping of an initial bearish start to the market, resulting in a 1.33% increment in the Bitcoin Cash price, translating to $294 per coin, with the highest trading price of $295 per coin, while the lowest trading price for the day as indicated by the wick below the candle stands at $283 per coin.
Following the bullish dominance of the previous day, the bears initiated a momentum on the 6th of February, resulting in a 4.20% drop in the Bitcoin Cash price, translating to $282 per coin, with the highest and lowest price points seen in the market at $296 and $281, respectively.
At the start of the market on the 7th of March, the bulls have an early start after toppling an initial bearish action as indicated by the wick below the candle, influencing a 0.57% increase in the Bitcoin Cash price as at writing this piece, translating to $283 per coin. With the market yet to close for the day, we likely will see more volatility; however, Bitcoin Cash's highest and lowest trading prices stand at $284 and $275, respectively.

Indicators

The Bitcoin Cash market remains bearish as its relative strength index over the last few days remains below the 50 mark. We see the relative strength index on the 5th, 6th, and 7th of March stand at 43, 39, and 40. The bearish outlook for the asset is correlated by the histogram and MACD, with the MACD below the zero line.

Buy and sell BCH on Remitano

Cardano / US Dollar

On the 5th of March, the bulls gained control of a contested market, resulting in an ADA rise of 2.41%, bringing the ADA price to $0.865 per coin. The highest and lowest price points achieved stood at $0.883 and $0.819.
Following the dominance of the bulls on the previous day, the bears initiated a move on the 6th, resulting in a drop of 4.90%, bringing the ADA price to $0.823 per coin. The highest and lowest price points achieved stood at $0.872 and $0.819, respectively.
We see the bulls attempting to revive the ADA market on the 7th of March, resulting in a 0.60% growth as of this piece's writing, bringing the ADA price to $0.827 per coin. With the market still far from its close, we will likely see more volatility. Nevertheless, the current highest and lowest price points seen in the market stand at $0.829 and $0.803, respectively.
With the bearish action over the last few days, the ADA market remains away from its 50-day moving average, portraying a bearish outlook.

Indicators

With the volatile price action over the last few days, we see the ADA relative strength index below the 50 mark, indicating a growing bearish effect on the market. With the above, the RSI on the 5th, 6th, and 7th of March stands at 39, 36.32, and 36.90.
In correlation to the RSI, we see the MACD deflect further away from the zero line, which places the bears as the dominant force in the market.

Swap to ADA

Dogecoin / US Dollar

On the 5th of March, the bulls initiated a momentum amidst bearish resistance, resulting in a 1.96% growth in the Dogecoin price, translating to $0.125 per coin.
On the 6th, the bears initiated a response to previous bullish momentum, resulting in a drop of 3.52%, bringing the Dogecoin price to $0.120 per coin. The highest and lowest price points achieved stood at $0.125 and $0.119, respectively.
We see the bulls restarting their momentum on the 7th of March, resulting in a 0.25% rise at this piece's writing, bringing the Dogecoin price to $0.121 per coin. With the market still far from its close, we will likely see more volatility. Nevertheless, the current highest and lowest price points seen in the market stand at $0.121 and $0.118, respectively.
With the bearish action over the last few days dominating the bullish action, the Dogecoin market falls farther away from its 50-day moving average, portraying a bearish outlook for the market.

Indicators

With the price action over the last few days, we see the Doge relative strength index stand below the 50 mark, indicating a growing bearish effect on the market. With the above, the RSI on the 5th, 6th, and 7th of March stands at 40, 37.22, and 37.45.
In correlation to the RSI, we see the MACD deflect away from the zero line, which places the bears as the dominant force in the market.

Swap to DOGE

Correlations

• Bitcoin / Ethereum = 0.91
• Bitcoin / Ripple = 0.71
• Bitcoin / Litecoin = 0.83
• Bitcoin / Bitcoin cash = 0.79
• Bitcoin / Cardano = 0.86
• Bitcoin / Dogecoin = 0.83

Keynotes for today

• Bitcoin at $38,735 per coin.
• Ethereum at $2,567 per coin.
• Ripple at $0.746 per coin.
• Litecoin at $101 per coin.
• Bitcoin Cash at $283 per coin.
• Cardano at $0.827 per coin.
• Dogecoin at $0.121 per coin.