State of Mind - March 22nd

New day on the crypto planet!

What's the feeling, guys? Well the market is globally bullish since yesterday at 18h30 (utc+1) as evidenced by the total market capitalization which went from 340 billion dollars to 344 billion dollars since. It is a slight increase but still.

The BTC below the 9000$ zone which seems to serve as resistance for the moment. If this one breaks the Bitcoin could head towards its bearish trend line, as we already explained yesterday.

Our sentiment is bullish in the medium to long term on this major currency. Why? Firstly because the spectrum of immediate regulation is gradually moving away and secondly because the technical indicators in daily time horizon seems bullish.

Nevertheless, the possibility of a slight correction before a more pronounced increase cannot be excluded. Indeed, the technical indicators over lower time horizons are bearish-neutral.

We must therefore remain cautious even if our bias is rather bullish on the BTC. Meanwhile, here is a summary of the main levels to follow on major currencies.

Remember, use stop-loss!