How can I use the break and retest strategy in cryptocurrency trading?

1 answers

• Dec 16, 2021 · 3 years ago
  The break and retest strategy is a popular approach in cryptocurrency trading. It involves identifying key support or resistance levels and waiting for a breakout. Once the price breaks above or below the level, traders wait for a retest of the level to confirm its validity. This retest provides an opportunity to enter a trade with a higher probability of success. To implement this strategy effectively, you need to identify strong support or resistance levels, wait for a breakout, and then wait for a retest before entering a trade. It's important to use proper risk management and set stop-loss orders to protect your capital. Remember, no strategy is foolproof, so always do your own research and analysis before making any trading decisions.
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