BTCUSDT--HOW MANY TIMES SUPPORT HOLD?(92K soon will break= fall)
2960
Hi in this educational post we are going to talk about more times a support or resistance touches higher possibility of breakout is expected.
here are some examples you can see in below charts and i will explain more after that about some conditions of multiple touches and breakout possibility.
As you saw the examples provided above more touches the support or resistance receive higher possibly of breakout is expected and why is that because each time the buyers are getting weaker and also in this range zone which is happening more buyers will think about it that why the price is not pumping and each time the support is holding maybe this time it would break so each time more buyers are getting out so the token or coin is getting weaker and weaker. also the number of buyer each time decrease for example second time which a support touches 1000 buyers will rush to buy and it pump then second time it would be 100 buyers instead and each times the new buyer amount is decreasing and more sellers are saving profit so soon it would break.
also for multiple touches you can consider how much it gain each time for example one other sign is when the support after multiple touch is going to break is lower highs means after each time support touch the price gain less than previous times so it means the buyers are getting weaker and soon after that support will break like the ETHUSDT and EURUSD in the examples(Left charts).
you mention more reason and examples in comments and lets discuss about it.
this is educational post and always do your own research first and then trade, it can be right about current situation of Bitcoin or may not, this was my view. DISCLAIMER: ((trade based on your own decision)) <<press like👍 if you enjoy💚
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.