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.
I don’t know for people saying you should ignore this.
For me, I think this is very important, especially when you’re a new trader that is still struggling to achieve in this volatile cryptocurrency market.
You should study everything that you’re mean to know about Support and Resistance, and what this does is that it will help you as a trader to be able to identify where there are strong supply and demand. I don’t know if you have ever checked some technical analysis by experts, like on Cointelegraph? They will always identify the areas of support and resistance. It’s going to be helpful if you learn it.
You would really be like a blind man in that case where you do trade without realizing or knowing on what are the support and resistances? Of course its important and even people do talk
about technical tools arent that useful but majority had been using this when they do first see into their charts.I'll surely bet on this one which this is the most common that would be plot out first
when making analysis.I dont know why there are people whom do consider for this to be useless, yet having no S&R will not really give you the idea or picture out on the current or recent supply and demand.