How can I use Thinkorswim to identify support and resistance levels in the cryptocurrency market?

3 answers

• BuddyJayApr 13, 2024 · 2 years ago
  Sure, here's how you can use Thinkorswim to identify support and resistance levels in the cryptocurrency market. First, open the Thinkorswim platform and select the cryptocurrency you want to analyze. Then, go to the 'Charts' tab and choose the time frame you prefer. Next, look for areas on the chart where the price has previously struggled to move above (resistance) or below (support). These levels can be identified by horizontal lines drawn across the chart. You can also use technical indicators like moving averages or trendlines to confirm these levels. Thinkorswim provides a variety of tools and indicators to help you identify support and resistance levels effectively.
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• Strickland BermanDec 14, 2020 · 5 years ago
  Identifying support and resistance levels in the cryptocurrency market using Thinkorswim is quite simple. Start by opening the Thinkorswim platform and selecting the cryptocurrency you want to analyze. Then, navigate to the 'Charts' tab and choose the desired time frame. Look for areas on the chart where the price has previously found it difficult to break above (resistance) or below (support). These levels can be marked using horizontal lines. Additionally, you can use technical indicators such as moving averages or trendlines to confirm these levels. Thinkorswim offers a range of tools and indicators that can assist you in identifying support and resistance levels accurately.
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• Kjer BollSep 24, 2021 · 4 years ago
  To identify support and resistance levels in the cryptocurrency market using Thinkorswim, follow these steps. First, open the Thinkorswim platform and select the cryptocurrency you want to analyze. Then, go to the 'Charts' tab and choose the desired time frame. Look for areas on the chart where the price has previously encountered resistance or support. These levels can be marked using horizontal lines. Thinkorswim provides various technical indicators that can help you confirm these levels, such as moving averages or trendlines. Additionally, you can use Thinkorswim's drawing tools to annotate the chart and highlight important support and resistance levels. Remember to consider multiple time frames to get a comprehensive view of the market.
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