Another new trend that has developed in the Cryptocurrency market trend is the rise of key levels. These key levels refer to the point where a certain price moves up and down in the market without actually changing. With prices currently sitting at around the level of $5.00 each, there seems to be a clear move toward buying and selling at these key levels. What makes the Cryptocurrency market trend with these key levels so popular is the fact that they provide excellent opportunities for big gains.
A couple of the most interesting Cryptocurrency trends using price action are what is known as the golden cross, the bearish symmetrical and the uptrend continuation. As mentioned above, the golden cross is characterized by strong support at lower prices and strong resistance at higher prices. With this pattern, buyers get the opportunity to buy before the price moves below the Support Level and sell before the price moves above the Resistance Level. Both of these patterns are bullish in nature and point to strong support and resistance levels being established in the market.
The last couple of Cryptocurrency trends to discuss are the uptrend continuation and the bearish symmetrical. These two trends are characterized by strong support at both lower and higher prices. What makes them bullish in nature is that the current prices are closing very close to or just below the Support Level of an uptrend and just below the Resistance Level of a bearish trend. This allows traders the opportunity to catch a quick break out of the market before the current price bounces back upward. What makes the bearish symmetrical trend so strong is that when it goes bullish, it usually quickly moves back down to where it started, meaning a quick loss for an exiting position.
If you are a trader who has been recently testing the market, you may be interested in learning more about the different Cryptocurrency trends from around the world and how they can affect your portfolio and overall profits. To get started, sign up for a free Forex demo account and begin putting your trades together. If you are new to the global market, you may find that investing a little time in the demo accounts will be worth it. It will help you learn about what to expect during future cycles and which signals you should be paying much attention to as well.
