How bitcoin price resistance level works?

[gloria10yqj 27]

On 4/3/2020 at 2:38 AM, Upright said:

As from group whovj I seen from, whenever I see this term resistance, its more of a point which the bitcoin value will not go below it at that certain moment.as basically the resistance will always prove if its actually goon to to make the coin rise in value

This person determines the resistance of Bitcoin by creating more supply at a specific price that exceeds demand .. we hope all Bitcoin users hope that Bitcoin level will increase. who created the sell and sell orders you see in the exchanges.

[DiamondBit 720]

On 7/6/2020 at 10:31 AM, gloria10yqj said:

who created the sell and sell orders you see in the exchanges.

You can only track the address of the transactions made, but to know the exact people that created buy and sell order I not possible, you can only know the amount of crypto bought and sell at a particular price on exchange.

[Captin 0]

No, of course, there is no specific level that all people have agreed upon, but when the downturns occur, some whales make a great demand for Bitcoin, so it rises again and they do so not out of an ethical principle but to keep their bitcoin holdings from collapse

[Afran_025 26]

I think keeping that support and resistance levels at your mind,it is also quite important to remember how easy its to break them.We are literally breaking over resistance level's daily and going under support levels daily as well.Remember during pandemic it moved from $9k to $3.6k at the bottom in 5 hours,that is how long it took to drop the bitcoin price,and remember it was around $3k and went to $20k in a month,that is how easy it is to break over the resistance.

[percare 3192]

Support levels are where price finds a short term bottom. Where support is strong it means that Bitcoin will bounce and the higher the bounce the more the chance of changing the short term bearish trend into a bullish one. There are some indicators that are helping to decide if a dip is over and usually traders wait for confirmation using the macd, rsi and a few more tools.

Edited November 28, 2020 by percare

[Fixfin 2569]

Resistance is when Bitcoin can't pass a certain level while moving up, support is what you explain in this post and it is as you said. There are traders putting orders and whales perhaps taht are buying at certain levels. It will not mean that if this support fails there won't be bigger support lower as usually the lower the price the higher the demand. Prices are not stable because of speculation and Bitcoin has rising demand for years that sometimes exceeds a lot the supply and we have breakouts of crucual resistance to the upside.

[cryptovlek 2597]

It is not easy to find temporary support or resistance levels. I'm not a great trader but there are patterns that happen again and again and these two levels appear when there is higher volumes. I don't remember this exact example but it is same with all support levels that Bitcoin drops for sometime and at a point volumes increase and traders start buying again.

[Sykkuno 2887]

It doesn't mean that support or resistance are always holding. Anything can happen and the price might look like it is going down more if resistance is broken but it can be only temporary. Lately after the halving we have seen Bitcoin having big support at 10k which is risen now to higher levels like 14k, in case it breaks down there it will bounce again higher but people already created better support at 16k. There are big levels where buyers are concentrated during times. this doesn't mean that if they are broken there will be dangers but it is good for traders to make their plans.

[yonkii 3205]

From how I see this the resistance is when price can't go higher anymore but is met with strong selling resistance and this stops buyers and pushes prices down as traders want to sell before price goes down fast. Support on the other hand is the opposite. I read the example given and I think taht there are sometimes strong resistance and support that can't be broken easily but this all has to do with the momentum and speed of a drop or a rise in price.

[annayks 2314]

Support and resistance levels are technical trading terms that we sometimes mistaken each other, nonetheless it is important to recognize in the chart and when trading we buy the support and sell the resistance. We use stop limits (SL) when buying and if we are not feeling good about the support we use tighter SL. Sometimes support breaks because it was weak so we move to next one.

[Zeshan Khalid 2577]

Once it's demand and supply gap increases or decreases then no resistance can work. It's the main factor that influences it's price and keeps it fluctuating. Maybe the traders you are talking about sale or purchase coins when they see big fluctuations to keep is less volatile.

[Khan 1414]

On 2/7/2020 at 9:06 PM, Rahul21 said:

The level of resistance to the price of bitcoin is actually that we can see that now Bitcoin has gone up to $ 9400 and that price level will reach $ 10,000 tomorrow.  So we expect all Bitcoin users to expect that the level of Bitcoin will go up.

Right as the price movement is very un-predictable and the change factor is very fast as the price is moving up and down with the difference of $500 in just few hours.

[Yomose 3704]

21 minutes ago, Khan said:

Right as the price movement is very un-predictable and the change factor is very fast as the price is moving up and down with the difference of $500 in just few hours.

It depends on the market, and your analysis is not that accurate. It is over an hour bitcoin has been with $18400 to $18500. The price of bitcoin can be very volatile it can take a minute, hours or a day, but it may not be as often as every hour like you commented. 

[GanBin 705]

On 7/1/2020 at 2:27 PM, Honny143 said:

Resistance and support levels decides market dump are pump, these are the main points traders follow to take trade, like bitcoin prices opens 9200$ dollars and the resistance points sets 9800$ dollars, so now traders always tries bitcoin not cross this prices sellers doing pressure and bitcoin prices comes down but once break this point, bitcoin hit high prices mark.

Market dump means a significant decrease of market prices, it is connected to support and resistance. If a market is dumped, it will fall beyond support, and that means it is likely for the price to continue to fall. For resistance, the market is not able to go beyond certain level. 

[Abdulrahman3 1252]

There is no hidden force trying to reduce the price of Bitcoin, nor a hidden force that helps it to resist, but there are traders who believe that it will rise and others believe that it will decrease, and as a result of supply and demand, its price varies from time to time.

[teebasas 3018]

A community of traders manipulates prices in both directions. They want you to sell to them at low prices and then dump on you when the price can't go any higher. It's a game for them, and they've been playing it for ten years. They don't simply keep prices below a certain point. They set the conditions for price to skyrocket, and they stand to make a lot of money if it does.

[Crypto Eng. 1142]

True, there are indicators to know the level of resistance when the price rises and support when it falls, in order to keep it at a certain level, and these indicators are useful in technical analysis of the bitcoin price and predict the price direction in the future.

[Brushless4500KV 4214]

On 4/7/2021 at 1:39 PM, Bamallson said:

Trading Bitcoins is not as fluid as trading fiat currencies. Yes, like any other currencies there are forces at work and they determine what happened, when, where, and how?

The fluidity matters but it doesn't matter who is at work behind crypto or any other currency. Anyone who is interested in trading, should learn specific techniques to be able to make profit in all possible conditions. Many people complain about the presence of so-called whales on the market but if you look at it closely, you will find that they can benefit your profit in some way or the other. You have to adapt your trading with the direction of market movement. That's the key!

[jackycrypto485 1055]

I do not think that a group of traders can control the price of bitcoin, they can only create a small resistance, the real controllers are the whales who have huge amounts of bitcoin and at the same time have millions of dollars, these are the ones who can do such things, while the rest are a group of small fish. That is trying to pick up crumbs.

[abohasnn9 2401]

Dear in general, the bitcoin currency rises with the long time because it is a large investment work. The higher the higher resistance strikes. What does resistance mean Resistance is a set of sales measures at a certain price If people in general put the order, suppose the price of the Bitcoin currency is 10,000 dollars with 10,000 satisfaction.  Of the people who placed a sale order at 11 thousand dollars, this resistance depends mainly until we break it into points of support that exceed the number of orders in this resistance until its price is exceeded to 11 thousand dollars in general Thank you very much