Resistance & Support Area Indicator MT5

Support & Resistance Areas in Bitcoin is one of the widely used bitcoin analysis method. Support & Resistance Areas in Bitcoin portrays the areas where bitcoin price is likely to bounce off after reaching these Support & Resistance Areas. Most traders draw horizontal lines to show these Support & Resistance Zones - Support & Resistance Areas in Bitcoin Trading.

There exists a bitcoin tool designed to automatically illustrate Support & Resistance Zones while identifying the respective support and resistance levels - MT5 Support & Resistance Indicator, MT5 Crypto Charts - Resistance & Support Area Indicator, and MT5 - Support & Resistance Zones Indicator for Bitcoin Trading.

Using Resistance and Support Area Indicators on MetaTrader 5 Charts

Support & Resistance Zones: Resistance and Support Area Trading Indicator on MT5

In these Support & Resistance Levels - price can either bounce off these Support & Resistance Zones or break these Support & Resistance Levels.

If a resistance area is broken the bitcoin price will move higher and the resistance area will turn in to a support zone.

If a support area is broken the bitcoin price will move lower and the support zone will turn in to a resistance level.

Support Levels - Bitcoin Price where the majority of bitcoin traders believe that bitcoin prices will move higher, while Resistance Zones indicate the bitcoin price at where many & majority of bitcoin crypto cryptocurrency traders feel bitcoin crypto prices will move lower.

Once bitcoin price has broken through a resistance zone or a support zone then it is likely that the bitcoin price will continue to move in that specific direction until when it gets to the next support zone or resistance area.

More often a Resistance or Support area is tested by the bitcoin price & the bitcoin price bounces, the more major a Support or Resistance Level that specified level becomes.