{"id":10618,"date":"2022-03-28T12:54:00","date_gmt":"2022-03-28T16:54:00","guid":{"rendered":"https:\/\/morpheustrading.com\/blog\/?p=10618"},"modified":"2022-04-27T01:44:56","modified_gmt":"2022-04-27T05:44:56","slug":"crypto-signals-03-28-22","status":"publish","type":"post","link":"https:\/\/morpheustrading.com\/blog\/crypto-signals-03-28-22\/","title":{"rendered":"Morpheus Crypto Report &#8211; +16% Gain from $CELO Crypto Swing Trade"},"content":{"rendered":"\n<figure class=\"wp-block-image size-large is-resized\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/new.morpheustrading.com\/blog\/wp-content\/uploads\/2022\/03\/BTC2032522-1024x626.png\" alt=\"\" class=\"wp-image-10518\" width=\"717\" height=\"437\" title=\"\" srcset=\"https:\/\/morpheustrading.com\/blog\/wp-content\/uploads\/2022\/03\/BTC2032522-1024x626.png 1024w, https:\/\/morpheustrading.com\/blog\/wp-content\/uploads\/2022\/03\/BTC2032522-300x183.png 300w, https:\/\/morpheustrading.com\/blog\/wp-content\/uploads\/2022\/03\/BTC2032522-110x67.png 110w, https:\/\/morpheustrading.com\/blog\/wp-content\/uploads\/2022\/03\/BTC2032522-768x469.png 768w, https:\/\/morpheustrading.com\/blog\/wp-content\/uploads\/2022\/03\/BTC2032522-1536x939.png 1536w\" sizes=\"auto, (max-width: 717px) 100vw, 717px\" \/><\/figure>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">TABLE OF CONTENTS<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/morpheustrading.com\/blog\/crypto-signals-03-28-22\/#Morpheus_Crypto_Report_%E2%80%93_March_28_2022\" >Morpheus Crypto Report &#8211; March 28, 2022<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/morpheustrading.com\/blog\/crypto-signals-03-28-22\/#Crypto_Portfolio\" >Crypto Portfolio<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/morpheustrading.com\/blog\/crypto-signals-03-28-22\/#tracks_and_updates_all_crypto_signals_sent_to_members\" >(tracks and updates all crypto signals sent to members)<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/morpheustrading.com\/blog\/crypto-signals-03-28-22\/#Bitcoin_blasts_above_its_February_high\" >Bitcoin blasts above its February high<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/morpheustrading.com\/blog\/crypto-signals-03-28-22\/#Back_above_the_50-week_MA\" >Back above the 50-week MA<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/morpheustrading.com\/blog\/crypto-signals-03-28-22\/#Battle_Plan\" >Battle Plan<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Morpheus_Crypto_Report_%E2%80%93_March_28_2022\"><\/span>Morpheus Crypto Report &#8211; March 28, 2022<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Below is the full, archived version of <em><a href=\"https:\/\/morpheustrading.com\/services\/crypto-picks\" target=\"_blank\" rel=\"noreferrer noopener\">Morpheus Crypto Report<\/a><\/em> that was sent to subscribers on March 28, 2022.<\/p>\n\n\n\n<p>If you enjoy what you see, please <strong><a href=\"https:\/\/morpheustrading.com\/services\/crypto-picks\" target=\"_blank\" rel=\"noreferrer noopener\">join us<\/a><\/strong> as a Morpheus member to receive real-time access to your live crypto trader room, crypto trading analysis, crypto signals, and crypto portfolio. <\/p>\n\n\n\n<p>Please drop us any questions or comments at the bottom of the post&#8211;<em>we&#8217;d love to hear from you!<\/em><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"crypto-portfolio\"><span class=\"ez-toc-section\" id=\"Crypto_Portfolio\"><\/span>Crypto Portfolio<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h4 class=\"wp-block-heading\" id=\"watchlist-closed-positions-open-positions\"><span class=\"ez-toc-section\" id=\"tracks_and_updates_all_crypto_signals_sent_to_members\"><\/span>(tracks and updates all crypto signals sent to members)<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<figure class=\"wp-block-image size-large is-resized\"><a href=\"https:\/\/new.morpheustrading.com\/blog\/wp-content\/uploads\/2022\/03\/port-1024x372.png\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/new.morpheustrading.com\/blog\/wp-content\/uploads\/2022\/03\/port-1024x372.png\" alt=\"portfolio\" class=\"wp-image-10522\" width=\"725\" height=\"263\" title=\"\" srcset=\"https:\/\/morpheustrading.com\/blog\/wp-content\/uploads\/2022\/03\/port-1024x372.png 1024w, https:\/\/morpheustrading.com\/blog\/wp-content\/uploads\/2022\/03\/port-300x109.png 300w, https:\/\/morpheustrading.com\/blog\/wp-content\/uploads\/2022\/03\/port-110x40.png 110w, https:\/\/morpheustrading.com\/blog\/wp-content\/uploads\/2022\/03\/port-768x279.png 768w, https:\/\/morpheustrading.com\/blog\/wp-content\/uploads\/2022\/03\/port-1536x558.png 1536w\" sizes=\"auto, (max-width: 725px) 100vw, 725px\" \/><\/a><figcaption><em>Press above to view full-sized image<\/em><\/figcaption><\/figure>\n\n\n\n<p><strong>New crypto signals sent to members since the previous week are in yellow above.<\/strong><\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"bitcoin-breaks-below-50-day-ma-shifting-back-to-short-term-sell-signal\"><span class=\"ez-toc-section\" id=\"Bitcoin_blasts_above_its_February_high\"><\/span>Bitcoin blasts above its February high<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>In the <a href=\"https:\/\/new.morpheustrading.com\/blog\/crypto-signals-03-21-22\" target=\"_blank\" rel=\"noreferrer noopener\">March 21 issue<\/a> of <em><a href=\"https:\/\/morpheustrading.com\/services\/crypto-picks\" target=\"_blank\" rel=\"noreferrer noopener\">Morpheus Crypto Report<\/a><\/em>, we showed you that Bitcoin ($BTC) was testing resistance of its prior swing high from March 9 (near the 42,500 level).<\/p>\n\n\n\n<p>We said that if Bitcoin broke out above that level, then the <em>real<\/em> test of resistance would come around the 45,500 to 46,000 level (horizontal price resistance of the February highs).<\/p>\n\n\n\n<p>On March 27, $BTC convincingly broke out above the 46,000 resistance level, as shown on the daily chart below:<\/p>\n\n\n\n<figure class=\"wp-block-image size-large is-resized\"><a href=\"https:\/\/new.morpheustrading.com\/blog\/wp-content\/uploads\/2022\/03\/BTC032522-1024x624.png\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/new.morpheustrading.com\/blog\/wp-content\/uploads\/2022\/03\/BTC032522-1024x624.png\" alt=\"BTC\" class=\"wp-image-10514\" width=\"717\" height=\"437\" title=\"\" srcset=\"https:\/\/morpheustrading.com\/blog\/wp-content\/uploads\/2022\/03\/BTC032522-1024x624.png 1024w, https:\/\/morpheustrading.com\/blog\/wp-content\/uploads\/2022\/03\/BTC032522-300x183.png 300w, https:\/\/morpheustrading.com\/blog\/wp-content\/uploads\/2022\/03\/BTC032522-110x67.png 110w, https:\/\/morpheustrading.com\/blog\/wp-content\/uploads\/2022\/03\/BTC032522-768x468.png 768w, https:\/\/morpheustrading.com\/blog\/wp-content\/uploads\/2022\/03\/BTC032522-1536x936.png 1536w\" sizes=\"auto, (max-width: 717px) 100vw, 717px\" \/><\/a><figcaption><em>Press image to view full-sized chart<\/em><\/figcaption><\/figure>\n\n\n\n<p>With Bitcoin&#8217;s rally above its February high, it&#8217;s notable that $BTC has now also formed <strong>two major higher highs and higher lows since it&#8217;s January low <\/strong>near 33,000.<\/p>\n\n\n\n<p>Since the 45,500 to 46,000 area was formerly a key level of resistance, this range should now act as new <em>support<\/em> on any short-term pullback.<\/p>\n\n\n\n<p>Note that it would even be okay if the price of $BTC briefly dips <em>below<\/em> the 45,500 level&#8211;as long as the price swiftly snaps back above that pivotal support level the same day.<\/p>\n\n\n\n<p><strong>However, a pullback below 45,500 that does <em>not<\/em> quickly recover could indicate a failed breakout<\/strong>, rather than a typical stop run.<\/p>\n\n\n\n<p>So far, there is no indication of a potential failed breakout, but it&#8217;s good to be aware of this possibility.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Back_above_the_50-week_MA\"><\/span>Back above the 50-week MA<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Zooming out to the longer-term <em>weekly<\/em> time frame, it&#8217;s quite notable that <strong>$BTC has reclaimed support of its 50-<em>week<\/em> moving average:<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image size-large is-resized\"><a href=\"https:\/\/new.morpheustrading.com\/blog\/wp-content\/uploads\/2022\/03\/BTC2032522-1024x626.png\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/new.morpheustrading.com\/blog\/wp-content\/uploads\/2022\/03\/BTC2032522-1024x626.png\" alt=\"\" class=\"wp-image-10518\" width=\"717\" height=\"437\" title=\"\" srcset=\"https:\/\/morpheustrading.com\/blog\/wp-content\/uploads\/2022\/03\/BTC2032522-1024x626.png 1024w, https:\/\/morpheustrading.com\/blog\/wp-content\/uploads\/2022\/03\/BTC2032522-300x183.png 300w, https:\/\/morpheustrading.com\/blog\/wp-content\/uploads\/2022\/03\/BTC2032522-110x67.png 110w, https:\/\/morpheustrading.com\/blog\/wp-content\/uploads\/2022\/03\/BTC2032522-768x469.png 768w, https:\/\/morpheustrading.com\/blog\/wp-content\/uploads\/2022\/03\/BTC2032522-1536x939.png 1536w\" sizes=\"auto, (max-width: 717px) 100vw, 717px\" \/><\/a><figcaption><em>Press image to view full-sized chart<\/em><\/figcaption><\/figure>\n\n\n\n<p>Last year, notice how the 50-week moving average perfectly acted as support each time $BTC pulled back from its highs (circled in yellow).<\/p>\n\n\n\n<p>That 50-week MA support level eventually flipped to become the new <em>resistance<\/em> level after Bitcoin entered into correction mode towards the end of 2021.<\/p>\n\n\n\n<p>However, the current $BTC breakout has once again put the price back above its 50-week moving average.<\/p>\n\n\n\n<p>In the coming days, traders and investors will be closely monitoring whether or not $BTC is able to <em>hold<\/em> above that 50-week moving average.<\/p>\n\n\n\n<p>For now, reclamation of the 50-week MA is firmly bullish <em>and<\/em> has triggered <strong>a<\/strong> <strong>new, intermediate-term &#8220;buy&#8221; signal in the crypto market.<\/strong><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Battle_Plan\"><\/span>Battle Plan<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>When Bitcoin initially breaks out above a key, closely watched resistance level, funds typically flow out of the altcoin market and directly into $BTC (which causes the Bitcoin Dominance Index to rise).<\/p>\n\n\n\n<p>That&#8217;s why $BTC was one of the first positions we bought in the portfolio after the crypto market started reversing higher in recent weeks.<\/p>\n\n\n\n<p>Now, we are <em>also <\/em>starting to see broad-based buying momentum in the altcoin market&#8211;similar to the types of massive altcoin gains we saw throughout much of last year.<\/p>\n\n\n\n<p>Accordingly, we have been steadily deploying our portfolio cash position to enter new altcoin swing trade setups.<\/p>\n\n\n\n<p>Currently, the Morpheus Crypto portfolio is holding seven open positions&#8211;<strong>each of which is currently showing a gain.<\/strong><\/p>\n\n\n\n<p>After rallying for eight consecutive days, $BTC may soon pull back&#8211;or at least enter into a short-term price consolidation&#8211;to digest recent gains.<\/p>\n\n\n\n<p>As such, we will continue trailing stops higher in our open positions to maximize profits and protect gains in case of a pullback.<\/p>\n\n\n\n<p>As for <em>new<\/em> setups, we have been aggressively <strong>scanning hundreds of charts to look for the best trade setups with bullish chart patterns and relative strength.<\/strong><\/p>\n\n\n\n<p>Although a vast majority of the altcoin market bounced sharply over the past week, it&#8217;s important to distinguish between dead cryptos merely bouncing off their lows (suitable for quick trades) and those with high relative strength that can be held longer, in anticipation of larger gains.<\/p>\n\n\n\n<p>Be on the lookout for trade alerts to notify you of any new trade entries, exits, and stop updates in the portfolio.<\/p>\n\n\n\n<p><em><strong><a href=\"https:\/\/morpheustrading.com\/services\/crypto-picks\" target=\"_blank\" rel=\"noreferrer noopener\">SIGN UP NOW<\/a><\/strong> to start receiving your winning Morpheus crypto trade signals, including a crypto portfolio<\/em> you can easily follow<em>.<strong> <a href=\"https:\/\/morpheustrading.com\/services\/crypto-picks\" target=\"_blank\" rel=\"noreferrer noopener\">Morpheus Crypto PRO<\/a><\/strong> includes <strong>live crypto trader room<\/strong> for daily, real-time trade ideas and powerful crypto trading education. <\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p><strong>Bitcoin blasts above its February high<\/strong><\/p>\n<p><!-- wp:paragraph --><\/p>\n<p>In last week&#8217;s report, we showed you that Bitcoin ($BTC) was testing resistance of its prior swing high from March 9 (near the 42,500 level).<\/p>\n<p><!-- \/wp:paragraph --><\/p>\n<p><!-- wp:paragraph --><\/p>\n<p>We said that if Bitcoin broke out above that level, then the <em>real<\/em> test of resistance would come around the 45,500 to 46,000 level (horizontal price resistance of the February highs).<\/p>\n<p><!-- \/wp:paragraph --><\/p>\n<p><!-- wp:paragraph --><\/p>\n<p>On March 27, $BTC convincingly broke out above the 46,000 resistance level, as shown on the daily chart below:<\/p>\n<p><!-- \/wp:paragraph --><\/p>\n","protected":false},"author":1,"featured_media":10518,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_links_to":"","_links_to_target":""},"categories":[780],"tags":[],"class_list":["post-10618","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-swing-trading"],"_links":{"self":[{"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/10618","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/comments?post=10618"}],"version-history":[{"count":16,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/10618\/revisions"}],"predecessor-version":[{"id":12328,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/10618\/revisions\/12328"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/media\/10518"}],"wp:attachment":[{"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/media?parent=10618"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/categories?post=10618"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/tags?post=10618"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}