#USChinaTensions The support and resistance points are often discussed by analysts regarding cryptocurrency, where the price of the currency bounces back up after a decline. Several weak, strong, and medium support points are determined based on the demand at these points. The same applies to resistance, but an important factor is often overlooked: the manipulation by the big players. They may place a very large buy order that makes the volume at this point a strong support, causing many to buy near it in hopes of a rise, in addition to the analysts' recommendations promising incredible profits. Suddenly, the whale cancels the buy orders, turning the support point into a trap to snatch your money, and the same goes for resistance points. Do not be deceived by the analysts' claims and only trust your own judgment. Best of luck $BTC Have a great day!
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content.See T&Cs.