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Analyzing The Uptrend In The Crypto Market

By Craig ThompsonCryptocurrencyOct 15, 2021 03:24PM ET
www.investing.com/analysis/analyzing-the-uptrend-in-the-crypto-market-200605245
Analyzing The Uptrend In The Crypto Market
By Craig Thompson   |  Oct 15, 2021 03:24PM ET
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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. Bitcoin 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.
Bitcoin Daily Chart.

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

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

Analyzing The Uptrend In The Crypto Market
 

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Analyzing The Uptrend In The Crypto Market

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Comments (6)
Pa Nsom
Pa Nsom Oct 18, 2021 12:43AM ET
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hello Sir, I'm new here and intends to invest in crypto. need some guidance
Talles Traore
Talles Traore Oct 16, 2021 2:45PM ET
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hello i wont to invest in bitcom
jinn Ozin
jinn Ozin Oct 16, 2021 2:45PM ET
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ok Nice to meet you
Arshadi Ali
Arshadi Ali Oct 16, 2021 2:45PM ET
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let's learn bitcom writing then invest in it !
Sagiv Barsheshet
Sagiv Barsheshet Oct 16, 2021 6:51AM ET
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That was very helpful. Thank you
jinn Ozin
jinn Ozin Oct 16, 2021 6:51AM ET
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you are welcome
Raj Guleria
Raj Guleria Oct 15, 2021 10:38PM ET
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great explanation in the video
Irfan Fakih
Irfan Fakih Oct 15, 2021 10:33PM ET
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Very helpful. Thank you for detail technical analysis.
Cypraino Oscar
Cypraino Oscar Oct 15, 2021 4:56PM ET
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Sir how can I start the business
 
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