Bitcoin, Ethereum And Dogecoin Print Reversal Candlesticks Ahead Of The Weekend: What To Watch

Bitcoin BTC/USD was trading slightly higher during Friday’s 24-hour trading session, lagging the general market, which saw the S&P 500 surging about 1.5% higher ahead of President Joe Biden signing the debt agreement that passed through both the House and the Senate this week.

Ethereum ETH/USD was trading about 1.7% higher and Dogecoin DOGE/USD, which like Shiba Inu, has been in a slumber recently, was popping up about 1%.

The crypto sector has been less predictive over the weekends of how the stock market will trade in the week ahead but traders and investors are still likely to pay attention to how Bitcoin and Ethereum, in particular, behave on Saturday and Sunday.

Here’s a look at three of the most popular cryptos heading into the weekend.

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The Bitcoin Chart: Bitcoin started trading in an uptrend on May 25. On May 28, the crypto broke up through a long-term descending trendline, signaling a longer-term reversal to the upside could be in the cards. Although Bitcoin has fallen lower over the last four trading days, it hasn’t negated its current uptrend.

Bitcoin’s most recent higher high within the pattern was formed on May 29 at $28,473 and the crypto may have printed a higher low at the $26,508 mark on Friday. If Bitcoin’s hammer candlestick that the crypto is working to print on Friday is recognized. Bitcoin is likely to trade higher on Saturday.

Bitcoin has resistance above at $27,113 and $28,690 and support below at $25,772 and $25,288.

The Ethereum Chart: Like Bitcoin, Ethereum has been trading in an uptrend, with the most recent higher high formed on May 29 at $1,928 and the most recent higher low printed at the $1,839 mark on Thursday. On Friday, Ethereum was reacting positively to the hammer candlestick printed Thursday, and rebounding.

If Ethereum closes the 24-hour trading session near its high-of-day, the crypto will print a bullish Marubozu candlestick, which could indicate higher prices will come again on Saturday. If that happens, bullish traders want to see the stock rise to print another higher high.

Ethereum has resistance above at $1,957 and $2,150 and support below at $1,846 and $1,717.

The Dogecoin Chart: Dogecoin has been trading in a sideways trading pattern on lower-than-average volume since May 9. The low volume suggests a current lack of interest in the crypto.

Like Ethereum, Dogecoin was looking to print a hammer candlestick on Friday, which if recognized suggests higher prices are in the cards for Saturday. If that happens, bullish traders want to see the crypto rise above $0.074 to confirm an uptrend.

Dogecoin has resistance above at $0.075 and $0.083 and support below at $0.069 and $0.065.

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