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Why Bitcoin, Ethereum And Dogecoin Could Be In For A Bumpy Road Ahead

Benzinga2021-09-26

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Bitcoin (CRYPTO: BTC), Dogecoin (CRYPTO: DOGE) and Ethereum (CRYPTO: ETH) have developed inside bar patterns on the daily chart. An inside bar pattern indicates a period of consolidation and is usually followed by a continuation move in the direction of the current trend.

An inside bar pattern has more validity on larger time frames (four-hour chart or larger). The pattern has a minimum of two candlesticks and consists of a mother bar (the first candlestick in the pattern) followed by one or more subsequent candles. The subsequent candle(s) must be completely inside the range of the mother bar and each is called an "inside bar."

A double, or triple inside bar can be more powerful than a single inside bar. After the break of an inside bar pattern, traders want to watch for high volume as confirmation the pattern was recognized.

Bullish traders will want to search for inside bar patterns on stocks that are in an uptrend. Some traders may take a position during the inside bar prior to the break while other aggressive traders will take a position after the break of the pattern.

For bearish traders, finding an inside bar pattern on a stock that's in a downtrend will be key. Like bullish traders, bears have two options of where to take a position to play the break of the pattern. For bearish traders, the pattern is invalidated if the stock rises above the highest range of the mother candle.

The Bitcoin Chart: Bitcoin was printing an inside bar on the daily chart just above a support level at $42,223. The crypto is trading in a short uptrend within a larger downtrend. Bitcoin will have to make a higher high above the $55,200 level for confirmation the downtrend is over.

The Dogecoin Chart:Dogecoin is trading in a steep downtrend but holding above a key support level of $0.197. The crypto's inside bar on Saturday demonstrates consolidation. If Dogecoin loses support at its key level it could fall toward the 16-cent mark.

The Ethereum Chart:Like Bitcoin, Ethereum may be working to reverse course into an uptrend but will need to shoot up above Thursday's high of $3182 for confirmation. Otherwise, the crypto could continue lower in its larger downtrend following Saturday's inside bar.

免责声明：本文观点仅代表作者个人观点，不构成本平台的投资建议，本平台不对文章信息准确性、完整性和及时性做出任何保证，亦不对因使用或信赖文章信息引发的任何损失承担责任。

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评论（97）

  • Nicktwa
    ·2021-09-27
    Roller coaster ride that might fall off if not careful…
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  • SSVC
    ·2021-09-27
    Yeah Appreciate your comments and response Thanks 
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  • Zhenloong
    ·2021-09-27
    nice info
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    • SamLim1808: 
      👍
      2021-11-26
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    • Felixayt: 
      thanks for sharing
      2021-11-22
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    • SamLim1808: 
      👌
      2021-11-20
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    查看更多 2 条评论
  • ZEROHERO
    ·2021-09-27
    Buying the dip
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  • Daleo
    ·2021-09-27
    Fear
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  • Linnleo
    ·2021-09-27
    Volatile for cryptos
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    • Linnleo: 
      the rest will follow too?
      2021-09-27
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    • Daleo: 
      Yeah
      2021-09-27
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  • Blackk
    ·2021-09-27
    Like 
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  • NicNg
    ·2021-09-27
    Dropping soon?
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  • IZLIN
    ·2021-09-27
    @Sagi08@Meow17@simplydkamfor a read!
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  • Abc123
    ·2021-09-27
    Wooshd
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  • dw321
    ·2021-09-27
    As it’s always been [Duh] 
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  • mark01bravz
    ·2021-09-27
    Pretty normal for crypto. It is very volatile to begin with. Imagine this analogy about crypto : 1st year get into prison. 2nd year escape from prison and swim for freedom 3rd year get eaten by a whale 4th year get spit out by the whale and end up in the middle of nowhere 5th year become a billionaire.
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    • 5e4c66fa: 
      Nice
      2021-09-27
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    • 滚股怪: 
      Okok
      2021-09-27
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    • Ivanami: 
      [Happy][Happy][Happy][Happy][Happy]good one
      2021-09-28
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  • _Shins
    ·2021-09-27
    Good
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    • _Shins: 
      Like
      2021-09-27
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  • Hayz
    ·2021-09-27
    I am happy with the returns of the bumpy road so far, getting use to the bumps and enjoying it.  Don't fall off the "bus"!
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    • ZEROHERO: 
      Just own a small % in portfolio will do
      2021-09-27
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  • Ermmmmmm
    ·2021-09-27
    Up and down is normal 
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    • themonkey: 
      [微笑]
      2021-09-27
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    • 302b38cb: 
      yes
      2021-09-27
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    • AetherC: 
      yup
      2021-09-27
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    查看更多 1 条评论
  • SeanSak
    ·2021-09-27
    Like n comment
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    • DennisMe: 
      Nice
      2021-09-27
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    • Huatkor: 
      Earth resources are limited. Please do not waste it for coin mining
      2021-09-27
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  • EHG
    ·2021-09-27
    Like 
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  • robot1234
    ·2021-09-27
    China has just declared all cryptocurrency-related activities illegal. In fact, China has declared crypto creation and trading as illegal since 2019. Wonder will more countries follow China and declare cryptocurrency mining and trading as illegal.
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    • ZEROHERO: 
      Politics. Can’t stop everyone. They’re scrambling to hide crypto in cold storage last week
      2021-09-27
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    • robot1234: 
      Tks for sharing
      2021-09-28
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    • robot1234: 
      Tks for sharing
      2021-09-30
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  • JayNayHayDay
    ·2021-09-27
    Like thx
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  • sfleong1
    ·2021-09-27
    Like n comment
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