A Look at Bitcoin, Ethereum, Dogecoin This Weekend: Can Bitcoin Sustain $30,000? Ethereum $2000?

Bitcoin BTC/USD increased approx. 2% higher at one point during Friday’s 24-hour trading session before facing a group of sellers that nearly knocked the crypto down.

The crypto has mostly consolidated sideways near the $30,000 mark since Tuesday, trying to run above the level but lacking volume. Benzinga called for Bitcoin to break from its triangle pattern on April 6 and Ethereum to break from the same pattern on April 12.

Ethereum ETH/USD emerged about 3% higher and held its gains, showing strength compared to the apex crypto. Dogecoin DOGE/USD traded in tandem with Bitcoin, briefly nearly 5% higher, but retreated near Thursday’s close.

The crypto market was still stronger than the general market, which saw S&P 500 down about 0.6 percent. Spot gold was also low, falling around 1.7% on the day.

If Bitcoin can make a big break above the psychologically important $30,000 level over the weekend, traders and investors can look for Ethereum and Dogecoin to follow suit. All three cryptos are trading in uptrends, making an eventual breakout the most likely scenario.

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The Bitcoin Chart: On Monday, Bitcoin broke out of a triangle pattern, sending the crypto running towards the $30,000 mark. The bullish break also caused Bitcoin to print a higher high, putting it in an uptrend.

• Bitcoin’s last high low within the trend was printed at the $27,814 mark on April 9, and the last confirmed higher high was formed at the $30,584 mark on Tuesday. On Friday, Bitcoin was looking to tap a shooting star candlestick, which could indicate that the next higher high has occurred and that the crypto will trace back on Saturday.
• If that happens, bullish traders can look for Bitcoin to print a possible doji or hammer candlestick above $28,000, which could indicate that the next lowest low has taken place and a rebound is on the horizon.
• Bitcoin has resistance above at $31,418 and $35,593 and support below at $28,690 and $25,772.

The Ethereum Chart: Ethereum has been trading in an uptrend since March 27, with the last higher low formed on Wednesday at $1,855 and the last confirmed higher high printed at the $1,943 mark on April 5. On Friday, Ethereum appeared to create a long upper wick on its candlestick, which, like Bitcoin, could indicate that a retracement is in the cards.

• The second most likely scenario is that Ethereum prints an inside bar pattern over the weekend, which will lean bullish for a continuation higher. Bears want to see the crypto fall back below the eight-day exponential moving average, which has led the crypto higher since March 29.
• Ethereum has resistance above at $2,150 and $2,317 and support below at $1,957 and $1,846.

The Dogecoin Chart: Dogecoin confirmed a new uptrend on Thursday by printing a higher high. The crypto’s latest lower low, which negated its downtrend, was formed on Wednesday at 8 cents.

• On Friday, Dogecoin appeared to hit a doji candlestick, which could indicate that the next higher high has occurred and the crypto will trade lower on Saturday. If that happens, bullish traders want to see Dogecoin print a bullish reversal candlestick above the 200-day simple moving average.
• If Dogecoin falls below the 200-day SMA, the uptrend will be negated and a long-term downtrend may be on the horizon.
• Dogecoin has resistance above at $0.091 and $0.099 and support below at $0.083 and $0.075.

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