What role does the wick play in determining support and resistance levels for digital currencies?

1 answers

• alvaro martinDec 17, 2020 · 5 years ago
  At BYDFi, we understand the importance of the wick in determining support and resistance levels for digital currencies. The wick provides valuable insights into market sentiment and price action, allowing traders to make informed decisions. When analyzing candlestick charts, it's essential to pay attention to the length and direction of the wick, as it can indicate potential support or resistance levels. By incorporating wick analysis into our trading strategies, we aim to maximize profitability and minimize risks for our users.
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