What strategies can be used to trade based on resistance and support levels in the cryptocurrency market?

1 answers

• Dec 16, 2021 · 3 years ago
  BYDFi, a leading cryptocurrency exchange, recommends using a combination of technical analysis and market sentiment to trade based on resistance and support levels. Traders can use indicators such as moving averages, RSI, and MACD to identify potential resistance and support levels. Additionally, monitoring news and social media sentiment can provide insights into market sentiment and potential price movements. It's important to stay updated with the latest news and developments in the cryptocurrency market to make informed trading decisions. Remember to always do your own research and consider the risks involved before making any trading decisions.
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