Trade Bitcoin Trading

Trading Identify a Trend

How to Identify Trend in Bitcoin Crypto Currency

In identifying trends in cryptocurrency trade - traders need to learn the correct way of identifying trend on bitcoin charts.

A bitcoin trend is a general direction of bitcoin price in the bitcoin market and this general direction can either be upwards or downwards. When the bitcoin trend is upwards it means that bitcoin prices are closing higher than where they opened and hence the general bitcoin trend direction of bitcoin prices is upwards. When the bitcoin trend is downwards it means that bitcoin prices are closing lower than where they opened & hence the general bitcoin trend direction of bitcoin prices is downward.

To spot a bitcoin trend trader will use a sequence of bitcoin price highs or bitcoin price lows.

Traders will then draw a bitcoin trend line connecting bitcoin price highs or bitcoin price lows and this bitcoin trend line will then indicate the direction of the bitcoin trend whether upwards or downward.

Bitcoin Upwards Trend

To spot a bitcoin upward trend bitcoin trader will identify bitcoin price lows that are sloping upwards and then use a bitcoin trend line - upward bitcoin trend line to connect these bitcoin price lows and once this trend-line is drawn on the bitcoin chart it then will be used to identify the upwards trend.

BTCUSD Downwards Trend

To spot a bitcoin downward trend bitcoin trader will identify bitcoin price highs that are sloping downwards and then use a bitcoin trendline - downward bitcoin trend line to connect these bitcoin price highs & once this trend-line is drawn on the bitcoin chart it then will be used to identify the bitcoin downward trading trend.

Once bitcoin traders draw and spot a bitcoin trend using bitcoin trend line - traders will then open trades in the direction signal of the trend. This is because once bitcoin prices start to move in a bitcoin trend direction - the bitcoin prices will keep moving in that direction for some time and this is why bitcoin traders identify the bitcoin trend first and use this bitcoin trend to open trades in the direction for the trend.

Trading Identify a Trend - Trading Identify a Bitcoin Trend? - How to Determine if there is a Bitcoin Trend - How to Identify Trend in Crypto Currency - How to Identify a Bitcoin Trend

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