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Most traders in financial markets consider accurate support and resistance areas as a great tool for decision making. As you may know, all indicators, oscillators, market patterns and trading strategies in general are based on supply and demand forces in the market, which are based on how strong different support and resistance lines are.
Experienced and professional traders use their knowledge and experience to find S/R areas in different timeframes, but considering the volatile nature of the cryptocurrency market, areas based on human discretion can be invalidated quickly. And making investment or trading decisions based on invalidated areas increases the risk significantly.
Artificial Intelligence and Financial IQ tools have made it possible to draw and update these lines constantly and in real-time. But these services are quite expensive which makes them not accessible to all traders.
Bittio provides its users with one of the best S/R tools. S/R Power is different from its existing counterparts as it calculates the strength of each S/R line using Artificial Intelligent techniques. The strength of each S/R line is represented as a number. In Bittio S/R Power chart, resistance lines and support lines are shown in red and green, respectively.
The number and thickness of each line indicate the strength of that line: The greater the thickness and number, the stronger the line will be. The price tends to react much more sharply as the candle hits the stronger lines. The thickness and number of each line may change after each AI update. S/R Power helps traders and investors to manage their next move, so it can be quite helpful in their trading or investment decision making. All traders can benefit from this tool.
Support and resistance lines first appeared in the early financial markets in East Asian countries. S/R technique was pioneered by Japanese traders. At first, mathematicians drew these lines that were suitable for daily time frames. By using Artificial Intelligence and novel technologies while preserving the original principles, Bittio was able to provide a financial tool that can mitigate the risk while maximizing the profit for each trade.