Technical Analysis of Bitcoin Trend Lines

A bitcoin trend-line can be an upwards bitcoin trend-line or a downward bitcoin trend line.

An up bitcoin trendline is plotted by connecting 2 lows and the bitcoin price lows are connected using a straight line. This straight line shows that bitcoin prices are heading upward because this bitcoin trend line slopes upwards - hence its name upward bitcoin trend line. Bitcoin traders then use this bitcoin trendline as the support level of the bitcoin price. New buy cryptocurrency trades are opened once the bitcoin price touches the upwards bitcoin trend line.

A down bitcoin trendline is plotted by connecting 2 highs and the bitcoin price highs are connected using a straight line. This straight line shows that the bitcoin prices are moving downward because this bitcoin trend line slopes downwards - hence its name downward bitcoin trend line. Bitcoin traders then use this bitcoin trend line as the resistance zone of the bitcoin price. New sell cryptocurrency trades are opened once the bitcoin price touches the downwards bitcoin trend line.

Tutorial: How to Draw & Trade Upward Bitcoin Trendline

How Do You Analyze Crypto Trend-Line? - How Do You Interpret a Crypto Trend Line?

Tutorial: How to Draw and Trade Downward Bitcoin Trend Line

Analysis of Crypto Trend-Lines - Trendline Crypto Trading