What is a Bitcoin Trend?
A bitcoin trend is the tendency of bitcoin prices to move in one specific direction for a certain period of time.
Bitcoin bitcoin prices generally move in trends, the bitcoin trend direction can either be upwards or downward.
Bitcoin Traders use bitcoin tools such as bitcoin trend lines to identify bitcoin trends.
Bitcoin Trend lines help to define entry and exit points for trades that are open by traders.
The bitcoin trend line define the btcusd market bitcoin trend & as long as bitcoin prices continue to move within the bitcoin trend line the traders will keep their trade open. Bitcoin traders will only close their open bitcoin trade once the bitcoin prices stop moving within the bitcoin trend lines.
The 2 types of bitcoin trends are:
Upward Bitcoin Trend - Drawn using an upwards bitcoin trend line
Downward Bitcoin Trend - Drawn using a down ward bitcoin trendline
Upward Bitcoin Trend
Tutorial: How to Draw & Trade Upward Bitcoin Trend
Drawn using an upward crypto trend-line
Downwards BTCUSD Crypto Currency Trend
Tutorial: How to Draw & Trade Downward Bitcoin Trend
Drawn using a downward crypto trend-line
The MetaTrader 4 platform provides charting tools for drawing trends on charts. To draw trend on crypto charts traders can use the bitcoin trend line plotting tool provided in MT4 software that is shown below.
Definition and Meaning of a Crypto Trend & How to Trade a Crypto Trend
To draw a bitcoin trend line in MetaTrader 4 platform and choose point A where you want to start drawing and then point B where you want the it to touch. You also can right click the trend-line and on the properties option choose the option to extend the ray by ticking 'ray check box', if you do not want to extend it, then untick this option in your bitcoin software.
The btcusd crypto trend is your best friend. Is a popular saying among bitcoin traders because you as a bitcoin trader should never trade against it. This is the most reliable bitcoin method to trade Bitcoin because once bitcoin prices start to move in one direction they can move in that direction for quite some time in what is known as a trend.
Principles of How to Draw & Define Bitcoin Trend
Use bitcoin candle charts
- The levels used to plot the bitcoin trend are along the lows of the btcusd crypto price bars in a upward market. An upwards bullish btcusd crypto trend move is defined by higher highs & higher lows.
- The points used to draw are along the highs of the bitcoin crypto price bars in a falling downward market. A downward bearish bitcoin trend move is defined by lower highs & lower lows.
- The points used to draw the bitcoin crypto currency trend-lines are extremes points - the high or the low btcusd crypto price. These bitcoin price extreme are crucial because a close beyond the extreme tells bitcoin traders that the bitcoin trend might be changing. This is an entry or an exit btcusd crypto signal.
- The more times a bitcoin trend is tested by bitcoin price but it isn't broken, then the more powerful the btcusd crypto trend signal.
Study More Tutorials & Courses:
- BTC USD MetaTrader 4 Technical Indicator T3 Moving Average
- How to Identify a Symmetrical Triangle BTC USD Pattern in Trade
- Complete Learn Trading Tutorial Course Study Training Course Tutorial
- Money Flow Index Trading Indicator Bitcoin Trading Indicators Download
- BTC USD Trend Technical Indicators
- How Do I Add Bollinger Bands BTCUSD Trading Indicators to MetaTrader 4 Platform?
- How Do I Analyze Fibo Extension Levels Trading Indicator on MetaTrader 4 Platform?
- BTC USD Trade Brokers BTC USD Accounts
- How Do I Analyze MetaTrader 4 Bitcoin Pending Orders in MetaTrader 4 Platform?
- What are BTC USD Charts?
