Bitcoin
$23,165.28
+185.09
(+0.81%)
Ethereum
$1,674.44
+33.75
(+2.06%)
Ripple
$0.40
0
(+1.24%)
Litecoin
$101.49
+2
(+2.01%)
EOS
$1.11
+0.03
(+2.41%)
Cardano
$0.40
+0.01
(+2.5%)
Stellar
$0.09
0
(+1.77%)
NEO
$9.12
+0.21
(+2.4%)
NEM
$0.04
0
(+3.62%)
DigitalCash
$65.19
+1.72
(+2.71%)
Tether
$1.00
0
(0%)
Binance Coin
$331.29
+1.28
(+0.39%)
QTUM
$2.95
+0.1
(+3.51%)
Verge
$0.00
0
(+3.75%)
Ontology
$0.24
+0.01
(+3.72%)
ZCash
$46.65
+1.08
(+2.37%)
Steem
$0.23
-0
(-1.05%)

Analyzing The Uptrend In The Crypto Market

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As an investor in the stock or cryptocurrency market, it is wise to determine the risk you take based on the underlying risk in the market. If risk in the market is high, then it’s advisable to reduce the risk you take in your investment accounts.

With that in mind, we take a deep dive into the uptrend in the cryptocurrency market. is our market proxy, and we analyze the uptrend for strength and/or weakness. Should we buy this move higher on weakness or sell on strength?

The current uptrend began with a breakout in Bitcoin at major support at the $30,000 level. One of the most important technical tools in analyzing the strength of any move in this space is volume. Volume is the fuel that propels an asset higher. If a breakout and the following advance occurs on weak volume, it should be looked at with caution.

Here is a daily chart of Bitcoin. We have put a blue box around the volume that occurred on the breakout and the following advance. ou can see an increase in volume on the initial breakout, but not much after that.

Bitcoin Daily Chart.

For a more detailed analysis, please click on the link below:

https://player.vimeo.com/video/632205548?h=d79d25b4dd

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





Read More: Analyzing The Uptrend In The Crypto Market

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