Red lines đ are a sign of fear for some and a sign of good opportunity for others
Support: The lower price at which the price is likely to reverse direction and start rising (such as $58,946 in the attached chart). âą Resistance: The higher price at which the price is likely to have difficulty rising further (such as $61,435 or $63,661). 2. Confirmation using technical indicators: Use indicators such as: âą MACD: If it shows a negative crossover (as in the picture), this means that the downward momentum is strong. Wait until it gives a positive signal to enter. âą Stochastic indicator: If it is in the oversold area (below 20), there may be a chance for a bounce. âą Bollinger Bands: If the price is close to the lower band, this may indicate a potential bounce. 3. Enter the trade: âą Buy at support: Wait until the price approaches the support level (such as $58,946) and a bounce appears, with confirmation from technical indicators. âą Sell at resistance: If the price reaches a resistance level (such as $61,435) and starts a spike (positive crossover). 3. Place a buy order if it starts a spike at $57,500 (below the support level). 5. Set a take profit target at $61,435 (resistance). This way, you can reduce your risk and take advantage of potential market moves, while using technical indicators to improve your entry and exit accuracy. $BTC $ETC $BNB #MarketDownturn #CryptoInvestment #BinanceTurns7 BinanceTurns7$BNB #BinanceTurns7
