elcome to another crypto market outlook for the 6th of March!
In today's market analysis, we will dive into the current state of the crypto market. BTC surged to $69,000 post-breakout above $60,000, USDT.D remains bearish, approaching a significant support level at 4%.
Furthermore, we will cover five altcoins (MKR, AGIX, QNT, DOGE, and WLD), emphasizing their key levels and potential trading setups.
Are you ready?
Today, we will cover the following topics:
- USDT.D and BTC Analysis
- 5 Altcoins Analysis
- Quotes / Advices
- Closing Remarks
USDT.D and BTC analysis
As usual, I always start my analysis with USDT.D as it serves as an indicator of traders' sentiment. USDT.D reflects whether traders are optimistic (investing in cryptocurrencies) or pessimistic (shifting towards stablecoins).
![USDT.D is overall bearish trading within the falling channel.](https://www.altcryptotalk.com/cdn-cgi/image/f=webp,quality=90/https://cdn.prod.website-files.com/646f2b3929624746bdeafb4a/65e8b444a4108cf1f3086239_USDT.D%20WEEKLY.webp)
USDT.D remains bearish within a falling orange channel. It's now approaching a strong support level at 4%
The 4% zone presents a strong rejection as it intersects with the lower brown and orange trendlines, acting as non-horizontal support.
![USDT.D 4h chart will remain overall bearish unless the last high at 4.55% is broken upward.](https://www.altcryptotalk.com/cdn-cgi/image/f=webp,quality=90/https://cdn.prod.website-files.com/646f2b3929624746bdeafb4a/65e8b460cf1eb934aa527b12_USDT.D%204H.webp)
USDT.D will remain bearish unless the last major high, marked in red at 4.55%, is broken upward.
Meanwhile, as USDT.D declines within the support zone of 3.75% to 4%, we can anticipate bullish activity from a short-term perspective.
![BTC weekly chart showing that BTC is hovering around the new all time high at 69,000.](https://www.altcryptotalk.com/cdn-cgi/image/f=webp,quality=90/https://cdn.prod.website-files.com/646f2b3929624746bdeafb4a/65e8b475bb3f59920676d79e_BTC%20WEEKLY.webp)
After breaking above the $60,000 resistance, BTC surged by 15% to reach $69,000, making a new all-time high.
For the bulls to remain in control from a long-term perspective, a break above $69,000 is required.
![BTC 4h chart showing the overall bullish trend within the rising wedge pattern.](https://www.altcryptotalk.com/cdn-cgi/image/f=webp,quality=90/https://cdn.prod.website-files.com/646f2b3929624746bdeafb4a/65e8b485262eb4c0f9a81466_BTC%204H.webp)
In the 4-hour timeframe, the bulls will maintain medium-term control as long as BTC is trading within the rising wedge pattern outlined in red.
From a short-term perspective, if the last low at $65,500 is breached downward, we anticipate the start of a bearish correction, potentially leading to a movement towards the $60,000 support zone.
5 Altcoins Analysis
Let's start with MKR. It has been trading within a narrow range highlighted in red.
For the bulls to maintain control, a breakout above the upper boundary of the range at $2270 is necessary. In such a scenario, a continuation towards the $2600 mark would be anticipated.
In parallel, if the lower boundary of the range is breached downward, we would anticipate a bearish movement towards the $1650 support level, where we will be looking for new buy setups.
![MKR daily chart hovering within a narrow range.](https://www.altcryptotalk.com/cdn-cgi/image/f=webp,quality=90/https://cdn.prod.website-files.com/646f2b3929624746bdeafb4a/65e8b52dd87fff7efcc7a60c_MKR%20DAILY.webp)
Turning our attention to AGIX. Following the breakout above the previous all-time high at $0.667, AGIX surged by 55%.
Currently, AGIX is hovering around the $1 round number.
For the bulls to maintain long-term control, a breakthrough above $1.04 is necessary.
![AGIX weekly chart rejecting a strong round number $1.](https://www.altcryptotalk.com/cdn-cgi/image/f=webp,quality=90/https://cdn.prod.website-files.com/646f2b3929624746bdeafb4a/65e8b5431e7cf8325f55b1b8_AGIX%20WEEKLY.webp)
In the 1-hour timeframe, the bulls will maintain control as long as the last low, highlighted in red at $0.86, holds.
If $0.86 is breached downward, we anticipate a bearish correction towards the $0.7 support level.
![AGIX 1h chart overall bullish trading within the rising channel unless the last low at $0.86 is broken downward.](https://www.altcryptotalk.com/cdn-cgi/image/f=webp,quality=90/https://cdn.prod.website-files.com/646f2b3929624746bdeafb4a/65e8b5566c08809e189d0506_AGIX%201H.webp)
Next on the list for today is QNT. As per our previous analysis, QNT broke above the $115 resistance and traded higher to test the next resistance at $130.
This week, QNT has been trading within a range bounded by our $115 support and $130 resistance levels.
For the bulls to maintain control long-term, a daily candle close above $130 is necessary.
In parallel, as QNT retests the $115 support, we will be looking for new short-term buy setups on lower timeframes.
![QNT daily chart hovering within a narrow range between $115 and $130.](https://www.altcryptotalk.com/cdn-cgi/image/f=webp,quality=90/https://cdn.prod.website-files.com/646f2b3929624746bdeafb4a/65e8b56ad87fff7efcc7e27d_QNT%20DAILY.webp)
Analyzing DOGE, as per our last analysis, it broke above the $0.1 - $0.12 resistance zone and surged by 70%.
For the bulls to establish control from a macro perspective, a daily candle closing above $0.2 is required.
Meanwhile, as it retests the $0.12 support, we will be looking for trend-following buy setups.
![DOGE weekly chart rejecting the $0.2 support.](https://www.altcryptotalk.com/cdn-cgi/image/f=webp,quality=90/https://cdn.prod.website-files.com/646f2b3929624746bdeafb4a/65e8b580803264dc2f1f59b3_DOGE%20WEEKLY.webp)
In the 1-hour timeframe, DOGE has been bullish, trading above the green trendline, which acts as a non-horizontal support.
After breaking below the gray low, DOGE is currently in a correction phase.
Thus, as it approaches the green trendline again, we will be seeking trend-following buy setups.
![DOGE 1h chart overall bullish trading above a trendline which is acting as a non-horizontal support.](https://www.altcryptotalk.com/cdn-cgi/image/f=webp,quality=90/https://cdn.prod.website-files.com/646f2b3929624746bdeafb4a/65e8b59067fcc8fb559a24a6_DOGE%201H.webp)
After breaking above the $4.5 - $5 resistance zone, WLD traded higher in a parabolic manner.
Currently, WLD is undergoing a correction phase, so we will be looking for trend-following buy setups on lower timeframes.
![WLD daily chart retesting a strong support and round number at $5.](https://www.altcryptotalk.com/cdn-cgi/image/f=webp,quality=90/https://cdn.prod.website-files.com/646f2b3929624746bdeafb4a/65e8b59efc639218d1c7c200_WLD%20DAILY.webp)
For the bulls to take control and initiate the next upward impulse, a breakout above the last major high marked in red at $7.85 is needed.
Meanwhile, WLD could still dip lower to retest the green support zone.
![WLD 4h chart showing the last major high at $7.85 that we need a break above for the bulls to take over again.](https://www.altcryptotalk.com/cdn-cgi/image/f=webp,quality=90/https://cdn.prod.website-files.com/646f2b3929624746bdeafb4a/65e8b5adbb3f599206783197_WLD%204H.webp)
Quotes / Advices
To avoid FOMO in crypto trading, set clear goals, conduct thorough research, and develop a trading strategy with predefined entry and exit points.
Use dollar-cost averaging, implement stop-loss orders, and stay informed without overexposure to market news.
Practice patience, avoid emotional trading, and diversify your portfolio to mitigate risk.
Focus on long-term growth rather than short-term gains, and remember to stick to your plan to avoid impulsive decisions.
Closing Remarks
In summary, USDT.D remains bearish, approaching a major support level at 4% while BTC surged to $69,000 post-breakout above $60,000.
MKR: Trapped in a range, break above $2270 or risk downside towards $1650.
AGIX: Bullish momentum after surpassing $0.667, long-term control sought above $1.04.
QNT: Testing crucial levels at $130 resistance and $115 support.
DOGE: Requires a daily close above $0.2 for macro control, support at $0.12.
WLD: Currently in a correction phase, a breakout above $7.85 is pivotal.