Market overview on March 5
Today, on March 5, Bitcoin (BTC) showed signs of recovery after forming a bottom in the H4 time frame. Meanwhile, BTC holds the flip area within the H1 time range, indicating that there is a lot of buying pressure. According to analysis, BTC may fall back Fair Value Gap on D1 (FVG)About $95K- $96Kbefore a strong bearish signal appears.
Through BTC’s price action, Ethereum (ETH) is expected to see a recovery, bringing potential trading opportunities for investors.
ETH technical analysis: key entry points
Based on price changes in BTC, ETH is expected to recover similarly, with key price levels as follows:
• Entrance: $2,113
• Stop loss: $1,980
• Profit: $2,550 (H2 high)
Detailed analysis
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H4 time range: ETH is forming an accumulation structure and has great support around it $2,000 – $2,050where buyers can step in.
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H1 time range: ETH did not break the critical flip area, indicating that the short-term uptrend is still in effect.
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risk: If Eth is lost $1,980 Support levels, prices may drop further, making Stop loss Basic.
Trading strategy
Investors may think Purchase restrictions Strategy $2,113expect ETH to recover $2,550 Follow BTC’s answer. However, it is crucial to closely monitor the movement of BTC, as the breakdown of the support of BTC may put pressure downwards.
Important Note:
•Observe price action $2,113 Confirm the reversal signal.
• If BTC breaks through its key structure, ETH may lose support and fail to achieve its profit target.
in conclusion
With the recovery signal of BTC, ETH can take advantage of this momentum and move towards $2,113 Before facing stronger volatility. Traders should follow risk management strategies and focus on market development to make informed decisions.
