Weekly charts show a succession of data points, every one of which is made up of the price movement over the course of a single trading week. Each candle, bar, or point on a line on a weekly chart indicates the price summary for a specific trading week. A weekly chart displays the high, low, open, and close for the whole week but not the day-by-day trading moves inside that week. The most popular forms of charts used by traders and investors are candlestick charts and bar charts. The weekly chart is generally used for long-term trading.
Today we take a look at the technicals for Bitcoin and Ethereum. The crypto market has been quiet for several months. On Friday we detected unusual dark pool activities (large block orders) in the Bitcoin Trust Fund and Ethereum Trust Fund, GBTC and ETHE respectively. When smart money know something, they place large orders in the dark pool exchanges, away from the public eye. By doing so, they are positioning themselves ahead of the crowds, in order to benefit from move that will follow, once the news or report is made public. However, dark pool activities do not tell us the direction of the next move. It only tell us that a large order(s) has been placed. Only a breakout (bullish) about a resistance level, or a breakdown (bearish) below a support level can confirm the direction of the next move. So, what can we expect next? Watch this video to find and to get the technical insights. Good trading! Trading Risk Disclaimer All the information shared is provided for educational