This is an Easy and Powerful Crypto Trading Strategy with SnR – Good day friends. As one of the most widespread indicators for technical analysis, Support and Resistance (Snr) is recognized as a very popular and standard in the trading world.

Without this indication, traders will surely find it difficult to trade and may lose a lot of cryptocurrency.

Because price convoys are always influenced by supply and demand, with support and resistance, you can calculate and forecast price convoys more quickly and accurately.

How big is the impact of Snr on cryptocurrency trading? How can you implement it and how do you use it to maximize the profit potential of crypto trading?

This article will help you learn how to quickly identify support and resistance, as well as what tactics to use to maximize Quan’s potential.

What is Support and Resistance?

In simple terms, Support and Resistance can be compared to the price convoy holding levels. The hedge is responsible for keeping the price low, when resistance suppresses its advance.

At the same time, in fact, the basic purpose of using Support and Resistance is more to predict valid areas to take buy or sell positions and determine exit targets from the market.

In general, the Support place will be used as a certificate to take a long position, while the Resistance is for selling. However, there are also traders who use the two places as confirmation of the continuation of the trend. If the price convoy can enter the Support or Resistance area, the price convoy will likely continue in the same way as the previous direction. This is often called a breakup.

The basics of support and resistance

The existence of support and resistance certainly does not come from the economic theory of supply and demand. In economics, aid can be compared to where it is needed, whereas resistance is supply.

The following descriptions can help you quickly explain what is happening in the market.

See all the different colored stripes above. All colored lines show where support and resistance are located, more than one was stopped and more than one was hit. The other circles are divided into 2 color styles that represent specific areas of supply and demand, such as Snr. Knowing that there are areas that are educated and those that are not, this can shed light on some of the facts running in your actual market.

First, when the price in the support area rebounds, it is seen that market demand for the product will increase and cause the price to rise.

Second, if the price returns to the resistance area, it means an increase in commodity supply. So how does the price conflict with the support and resistance areas? The breakthrough in the price of aid could explain the decline in demand for goods accompanied by the supply of special goods in the market. This causes the price to drop, as happened with $Luna.

With regard to the outbreak of resistance, it appears that the increase in demand for goods cannot be matched by a large or continuous supply in the market, leading to a long and rapid increase in prices.

While it has long been possible to describe moments with ease and care in economic theory, it is important to realize that the actual state of the market is not easy to explain, because there is always control over prices in every market.

It could be intentionally hiding sales to make it bad, or even more so by overdosing the product on the market until the price drops. In addition to different assumptions about the positions of major market participants, you can try to take advantage of profit opportunities and reduce risks.

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