Cryptocurrency Q&A
What is the 3 touch resistance?
What is the 3 touch resistance?
ShintoBlessing
Fri Sep 20 2024
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7 answers
1518
Excuse me, could you elaborate on what is meant by the term "3 touch resistance" in the context of cryptocurrency or finance? I'm not familiar with this specific term and would appreciate a clear explanation. Is it a technical indicator used in chart analysis, a trading strategy, or something else entirely? Thank you for your assistance in clarifying this concept.
7 answers
Eleonora
Sun Sep 22 2024
Specifically, traders are advised to sell (or open a short position) in the financial instrument when prices touch the resistance line for the third time.
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SsangyongSpiritedStrength
Sun Sep 22 2024
Cryptocurrency trading involves various strategies that traders utilize to navigate the volatile markets.
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SakuraDance
Sun Sep 22 2024
One such strategy is the 3-touch resistance method, which is employed to identify potential selling opportunities.
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GyeongjuGloryDaysFestival
Sun Sep 22 2024
This strategy dictates that traders should watch for prices repeatedly approaching a resistance level without breaking through.
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Michele
Sat Sep 21 2024
The rationale behind this approach is that the repeated tests of the resistance level indicate a lack of buying momentum, potentially signaling a reversal.
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