Friday 5 March
On Friday, March 5, Bitcoin trading ended in growth. The price increased by 0.83% to 48769. The increase in the S & P500 index by 1.95% and the correction in the dollar index supported the cryptocurrency market. The stock market reacted positively to the excellent report on the US labor market. The correlation between the S & P500 index and BTCUSDT on the clock is 0.59, on the daily TF - 0.89.
At the time of this writing, the weekly growth of bitcoin is 7.79%. All markets are closed, so bitcoin is presented to itself for the weekend. The daily candle for Thursday has a long shadow. On February 28, there was a similar candlestick with only a bearish body. Now the candle is smaller, but the body is bullish. To develop a rally with a target above 58352, buyers need to pass 50366 and the resistance zone 52007-52719. The formation is good for continued growth. If buyers do not waste time to break the trend line, then it is likely to see a bullish momentum within 2-3 days.
Posted Using LeoFinance Beta
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