How Do I Read Where to Place Stop Loss Bitcoin Order using Support and Resistance Levels?

How Do I Interpret in Trading Bitcoin Where to Place Stop Loss Bitcoin Order using Support and Resistance Levels?

A trader can use support and resistance levels on the cryptocurrency chart to determine where to place their stop loss cryptocurrency orders using the methods described on the examples below:

Setting Stop Loss Bitcoin Order using Resistance Areas

One way of setting stop loss cryptocurrency orders is to use bitcoin resistance levels, on the bitcoin charts.

Given that stop loss bitcoin orders tend to congregate at key points, when one of these resistance levels is touched by the bitcoin price, other cryptocurrency orders are set off.

Stop loss bitcoin orders tend to accumulate just above the resistance areas.

A resistance area should act like a barrier for bitcoin price movement, this is why the resistance level are used to set bitcoin stop losses.

If this bitcoin resistance level is broken the bitcoin price movement can go toward the opposite direction of the original bitcoin trend, but if this bitcoin resistance level is not broken the bitcoin price will continue moving in intended direction.

Stop Loss Bitcoin Order Level Setting using Resistance Levels in Bitcoin Trading

How Do I Read Where to Place Stop Loss Crypto Order using Support and Resistance Areas?

Setting Stop Loss BTCUSD Order using Support Levels

Another way of setting stop loss cryptocurrency orders is to use support levels, on the bitcoin charts.

Given that stop loss crypto orders tend to congregate at key points, when one of these support levels is touched by the bitcoin price, other orders are set off.

Stoploss orders tend to accumulate just below the support levels.

A support level should act like a barrier for bitcoin price movement, this is why these support levels are used to set bitcoin stop losses.

If this bitcoin support level is broken the bitcoin price movement can go toward the opposite direction of the original bitcoin trend, but if this bitcoin support level is not broken the bitcoin price will continue moving in intended direction.

Stop Loss Bitcoin Order Level Setting using Support Levels in BTCUSD

How Do I Interpret in Trading Crypto Where to Place Stop Loss Crypto Order using Support and Resistance Areas?

Trade Where to Place Stop Loss Bitcoin Order using Support and Resistance Areas?

Trade Where to Place Stop Loss Bitcoin Order using Support and Resistance Areas?