|
|
|
Bitcoin chart support resistance breakout is a key concept in cryptocurrency trading. Support levels act as floors where buying interest increases, preventing the price from falling further. Resistance levels, on the other hand, are ceilings where selling pressure mounts, halting upward moves. A breakout occurs when the price moves decisively above resistance or below support, often signaling a new trend. Traders use these patterns to make informed decisions, such as entering long positions after a bullish breakout or shorting after a bearish one. Monitoring Bitcoin\“s price action helps identify potential profit opportunities and manage risks effectively. |
|