How to cleverly use support levels in cryptocurrency trading?

(1) In an upward trend, during a pullback, if the bearish candlestick is weaker than the previous bullish candlestick, especially when approaching the support price level, and the trading volume shrinks, followed by a bullish candlestick quickly engulfing the bearish candlestick, the price will rise again, indicating effective support.

(2) In an upward trend, during a pullback, if bearish candlesticks frequently appear and bearish pressure increases, even if there is a slight rebound near the support line, the buying power is weak, and the price will eventually break below the support line, indicating a trend reversal.

(3) When a consolidation occurs near the support line, after a period of consolidation, if a long bullish candlestick appears, the support line is naturally effective.

(4) When a consolidation occurs near the support line, but a long bearish candlestick breaks the support line, investors rush to escape to minimize losses, causing the price to continue to fall for a while.

(5) When the price breaks below the support line, it indicates that the trend will shift from an upward trend to a downward trend. Generally, in a major upward trend, if a medium-term downward trend appears and the price breaks below the support line of that medium-term downward trend, it indicates that the major upward trend has ended; in a medium-term upward trend, if a minor downward trend appears and the price breaks below the support line of that minor downward trend, it indicates that the medium-term upward trend has ended, and the price will continue to decline according to the original downward major trend.

(6) When the price approaches the support line from above but fails to reach or just touches the support level and then rebounds, if there is a large trading volume accompanying it, then when a downward adjustment occurs again, it is a good time to buy in order to profit from the rebound.

(7) When the price breaks below the support line from above, if there is a significant trading volume accompanying it, it indicates that another downward trend is forming, and any slight pullback should be an opportunity to sell to avoid greater losses.

(8) When the price approaches the support line from above, although it has not broken below, if there is no accompanying trading volume, it indicates that there is no possibility of a rebound, and it is advisable to sell and exit early.