It is very safe to trade with support resistance but when we learn to trade we forget it after learning it or we are not interested in using it. But the use of support and resistance is very important in trading. Many of us run after strategy and forget or ignore the use of support resistance. The market always respects support and resistance or breaks out and moves in an up or downtrend.
I urge new trades to learn to draw support resistance with great care and observe the market to see the results for yourself.
Despite we acknowledge the roles of support and resistance levels, nothing is guaranteed and safe. Analysts have different technical analysis of their own regarding the support and resistance levels. We cannot predict the cryptocurrency market right now, as we have to invest and trade at our own risk.
As long we are equipped with risk management and diversification, our disappointment level would be a bit less when things turn red. It’s better to trade on our own, and use the basic principle of buying low and selling high.