Cryptocurrency trading tip: how to trade Resistance Breakout – video (HBAR example)

Tutorials 2 min read December 4, 2020
Richard Fetyko

Cryptocurrency trading tip: how to trade Resistance Breakout - video (HBAR example)

Cryptocurrency trading tip: how to trade resistance breakout.

One of the unique features of altFINS’ cryptocurrency trading and analysis platform is the Automated Chart Pattern Recognition, which detects 16 common trading patterns across over a 1,100 coins analyzed.  The system also predicts the likely price path going forward.  

Resistance and Support Breakout patterns, as identified by altFINS, have a very high winning ratio of over 70%.

Watch video below as we demonstrate trading Resistance Breakout using a live example of HBAR / USDT on Binance.  

HBAR is in a solid Uptrend and has broken through the $0.035 Resistance level and our system indicates a price target 25%+ higher.
The price also has solid momentum (MACD Crossover, RSI > 50) and, most importantly, strong volumes on Up days vs. Down days (OBV indicator), showing that demand from buyers exceeds supply from sellers.
We also show risk management techniques using price Alerts at critical support levels and appropriate trade sizing.

 

 

Cryptocurrency markets are down today.  Perfect pullback opportunity to get involved in altcoins in an Uptrend.  You can easily find altcoins in an Uptrend that are trading down today (pullback) on our Signal Summary page (shown below), which has many pre-defined coin filters.

 

 

 

Disclaimer: This content is for informational purposes only, you should not construe any such information or other material as investment, financial, or other advice. There are risks associated with investing in cryptocurrencies. Loss of principal is possible.

Written byRichard Fetyko
2 Comments
  • Alejandro December 09, 2020

    Great video! Keep it coming 🙂

    • Richard Fetyko December 10, 2020

      Thanks for feedback! will do 🙂