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TagsWhat are the key support and resistance levels in cryptocurrency trading?
r4tmjos908Dec 17, 2021 · 3 years ago1 answersCan you explain what support and resistance levels are in cryptocurrency trading and why they are important?
1 answers
- Support and resistance levels are crucial in cryptocurrency trading. They are like the walls that the price needs to break or bounce off. Support level acts as a floor, preventing the price from falling further. Resistance level acts as a ceiling, preventing the price from rising higher. These levels are important because they provide traders with potential entry and exit points. When the price approaches a support level, it could be a good time to buy. When the price approaches a resistance level, it could be a good time to sell. So, keep an eye on these levels and make your trading decisions accordingly. Happy trading!Dec 17, 2021 · 3 years ago
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