The Bitcoin price is trading close to $400 for several days now. I found that limit orders tends to gather around round numbers. And at $400 there are 350 bitcoin for sale. This causes resistance below it, such price touching $398 and $399 will bounce back most of the time.
My strategy when trading near resistance is to never buy near it. If I got a buy signal, such as Donchian channel break up, I will not take any sell order. I will instead set up my own buy order at Donchian lower mid hoping that the price will go down.
