It is the S&P 500’s strongest weekly gain — up more than 6% the past five days — since November 2020. With that in mind, here are the top stock trades I’m watching next week.
![Dogecoin [DOGE] to rise beyond 40%? Whale activity may spur rally](https://crypto.newswireservice.net/wp-content/uploads/2023/02/doge-wale-1000x600-120x86.jpg)
Top Stock Trades for Monday No. 1: Bitcoin (BTC-USD)
Bitcoin (BTC-USD) has been trading better lately as it continues to put in a series of higher lows and hold the $37,000 area. It’s now back above the 10-day, 21-day and 50-day moving averages, as well as the daily VWAP measure.
Last week’s high is nearby at $42,590. If it clears this level soon — or if it pauses here and gives us two weekly highs near each other — bulls can look for a rotation back through this area, putting the $45,000 to $46,000 area back in play.
Above that opens the door to the 200-day.
On the downside, however, a move below $40,000 puts the $37,000 area and uptrend support back in play.
Top Stock Trades for Monday No. 2: Ethereum (ETH-USD)
Like Bitcoin, Ethereum (ETH-USD) is also trading better. It’s already cleared downtrend resistance and is also putting in a series of higher lows. Also like Bitcoin, Ethereum is back above its short- and intermediate-term moving averages.
Now pressing higher, keep an eye on the $3,000 area. Not only is that a nice round number, but it’s also near where downtrend resistance and the March high comes into play.
Above that opens the door to the $3,300 area.
On the downside, though, a move below its key moving averages — the 10-day, 21-day and 50-day — puts $2,500 back in play.
Top Stock Trades for Monday No. 3: Dogecoin (DOGE-USD)
Last but not least of our crypto coverage is Dogecoin (DOGE-USD), which has been crushed amid the recent bear market in “risk-on” assets.
Currently struggling with the 10-day, the 21-day sits just above today’s high and has been active resistance all month. If we can get a push above this level, though, it could create a quick pop up to the 13 to 14 cent range and the 50-day moving average.
In doing so, it will…
![Dogecoin [DOGE] to rise beyond 40%? Whale activity may spur rally](https://crypto.newswireservice.net/wp-content/uploads/2023/02/doge-wale-1000x600-350x250.jpg)
