Carolina
Tue Aug 06 2024
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5 answers
1105
How are bitcoin resistance and support bands derived?
I'm curious to know how exactly the resistance and support bands for Bitcoin are determined. Are they based on historical price movements, or do they involve some form of technical analysis? What factors contribute to these bands, and how do traders use them to make informed decisions about when to buy or sell Bitcoin? Understanding the methodology behind these bands could potentially help me make more strategic investments in the cryptocurrency market.
