Resistance and Support Area Indicator MetaTrader 5
Support and Resistance Areas in Bitcoin is one of the widely used bitcoin analysis method. Support and Resistance Areas in Bitcoin portrays the areas where bitcoin price is likely to bounce off after reaching these Support and Resistance Areas. Most traders draw horizontal lines to show these Support and Resistance Zones - Support and Resistance Areas in Bitcoin Trading.
There is also a bitcoin indicator used to draw these Support and Resistance Zones automatically and indicate the resistance and support levels - MT5 Support and Resistance Trading Indicator MetaTrader 5 Cryptocurrency Charts - Resistance and Support Area Indicator MetaTrader 5 - Support and Resistance Zones Indicator Bitcoin Trading.
- MT5 Support and Resistance Indicator MetaTrader 5 Cryptocurrency Charts - Resistance and Support Area Trading Indicator MetaTrader 5 - Support and Resistance Zones Indicator Bitcoin Trading
In these Support and Resistance Levels - price can either bounce off these Support and Resistance Zones or break these Support and Resistance Levels.
If a resistance area is broken the bitcoin price will move higher and the resistance area will turn in to a support zone.
If a support area is broken the bitcoin price will move lower and the support zone will turn in to a resistance level.
Support Levels - Bitcoin Price where the majority of bitcoin traders believe that bitcoin prices will move higher, while Resistance Zones indicate the bitcoin crypto currency price at where majority of bitcoin crypto currency traders feel bitcoin crypto prices will move lower.
Once bitcoin price has broken through a resistance zone or a support zone then it is likely that the bitcoin price will continue to move in that specific direction until when it gets to the next support zone or resistance area.
More often a Resistance or Support area is tested by the bitcoin price & the bitcoin price bounces, the more major a Support or Resistance Level that particular level becomes.
Automatic Support and Resistance Indicator MetaTrader 5
Dynamic Resistance & Support Technical Indicator Zones are calculated using bitcoin trend lines method.
Up-ward Bitcoin Trend
In an upwards bitcoin trend the Dynamic Resistance and Support Indicator Zones will generally head upward in an upwards direction
Dynamic Resistance and Support Crypto Indicator MetaTrader 5 Software
Downwards Trend BTCUSD Crypto Trading
In a downwards bitcoin trend the Dynamic Resistance and Support Indicator Zones will generally head downward in a downward direction
Downwards Trend Bitcoin - Dynamic Resistance and Support Indicator MetaTrader 5 Bitcoin Software
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