Bitcoin, Ethereum And Dogecoin Print Reversal Candlesticks Ahead Of The Weekend: What To Watch
Portfolio Pulse from Melanie Schaffer
Bitcoin, Ethereum, and Dogecoin are showing reversal candlesticks ahead of the weekend, indicating potential short-term price increases. The crypto market has been less predictive of stock market trends during weekends, but traders and investors are still likely to monitor Bitcoin and Ethereum's performance.
June 02, 2023 | 8:27 pm
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Bitcoin is trading slightly higher and may continue to rise on Saturday if its hammer candlestick is recognized. It has resistance at $27,113 and $28,690, and support at $25,772 and $25,288.
Bitcoin's hammer candlestick indicates a potential reversal to the upside. If recognized, it could lead to higher prices on Saturday. Resistance and support levels provide potential price targets for traders.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Dogecoin is trading sideways on low volume, but may rise on Saturday if it prints a hammer candlestick. It has resistance at $0.075 and $0.083, and support at $0.069 and $0.065.
Dogecoin's hammer candlestick indicates potential for higher prices on Saturday. If recognized, traders will look for the crypto to rise above $0.074 to confirm an uptrend. Resistance and support levels provide potential price targets.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
Ethereum is trading higher and may continue to rise on Saturday if it prints a bullish Marubozu candlestick. It has resistance at $1,957 and $2,150, and support at $1,846 and $1,717.
Ethereum's bullish Marubozu candlestick indicates potential for higher prices on Saturday. If it occurs, traders will look for the crypto to print another higher high. Resistance and support levels provide potential price targets.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100