Bitcoin (Cryptography: BTC), Ethereum (Cryptography: ETH) and Dogecoin (CRYPTO: DOGE) are all trading higher with a strong uptrend. An uptrend occurs when a stock price consistently creates high and low values on the chart.
Higher highs indicate that the bull is in control, and intermittent higher lows indicate a period of integration. Traders can use moving averages to identify uptrends. A rise in the low time frame moving averages (such as the 8-day or 21-day exponential moving averages) indicates that stocks are on a sharp short-term uptrend and the long-term moving averages are rising. Shows a long-term upward trend (such as a 200-day simple moving average).
Stocks are often notified when highs are reached by doingji, bearish swallowing, or printing inverted candlesticks such as hanging man candlesticks. Similarly, higher lows may be notified when Doji, Morningstar, or Hammer candlesticks are printed. In addition, higher highs and higher lows often occur at levels of resistance and support.
In the uptrend, otherwise “the trend is your friend”, and in the uptrend, there is a way for both bullish and bearish traders to join the stock.
- Bullish traders who already hold a stock position can be confident that the uptrend will continue as long as the stock does not fall. Traders looking to take a position in an uptrend stock trading can usually find the safest entry at the highest price.
- Bearish traders can join the trade at a higher high price and close with a pullback. These traders can also enter when the uptrend breaks down and stock prices fall. This indicates that the card may have a reversal to the downtrend.
- See also: Ethereum Classic soars in response to key patterns and miners are interested: Is the Golden Cross on the way?
Bitcoin chart: Bitcoin reversed to an uptrend on March 14th and 16th, and the crypto split from the down channel pattern of the daily chart. The latest high was printed at $ 40,130 on March 18, and the uptrend remains if the crypto continues to trade above the level.
- On Sunday, Bitcoin appeared to be printing another higher low below a resistance level of $ 42,223. Traders and investors can monitor cryptocurrencies above the 8-day Moving Average (EMA) in pullbacks for future confidence.
- Sunday retracements were done in less than average amounts. This is a positive sign for the Bulls. By late afternoon, Bitcoin volume was measured at about 6,075 compared to an average of 15,176 10-day volumes. If security drops with less than average volumes, it indicates a healthy integration.
- Bitcoin has resistance of $ 45,814 and $ 48,475 above $ 42,223 and support below $ 39,600 and $ 38,105.
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Ethereum Chart: Like Bitcoin, Ethereum reversed the possibility of an uptrend on March 14 and disbanded from the down triangle the next day. Ethereum has not printed a high low to see the trend, but it may be printing on Sunday.
- Ethereum may also have a pole formed between March 14th and March 18th, and in the next few days the flag will begin to form and settle on the bull flag pattern on the daily chart. If the bull flag is recognized, the measured movement of the pattern is about 18%, which indicates that Ethereum may trade up towards the $ 3,300 level.
- Ethereum resistance is $ 2,890 and $ 3,057, and support is $ 2,609 and $ 2,461.
Doge Coin Chart: Dogecoin returned to the uptrend on March 14th, forming the latest highs at the $ 0.114 level on Friday and printing the latest highs at $ 0.125 on Saturday.
- Like Bitcoin and Ethereum, Dogecoin may print the next high on Sunday. Alternatively, Dogecoin could fall on Monday and backtest the uptrend line of the down channel pattern, where the crypto collapsed bullishly from Saturday.
- If Dogecoin breaks the pattern and forms a bullish reversal candlestick on Monday, it could give traders who are not yet in position a solid entry point.
- Dogecoin resists at $ 0.135 and $ 0.146 and has support at the psychological level of $ 0.106, an important dime.
