What are support and resistance levels:
Support level is a price level below which the price rarely falls. When the price approaches this level, it often bounces back up because buyers start actively purchasing the asset.
Resistance level is a level above which the price rarely rises. When approaching this level, the price often bounces back down as sellers start selling the asset.
How to 'manually draw' them:
1. Open the price chart (for example, in TradingView).
2. Look for where the price has reversed several times — that is, either fell and bounced back up (support) or rose and bounced back down (resistance).
3. Draw a horizontal line at these levels.
4. It’s better to mark zones rather than exact lines — the price rarely hits the same point pixel-for-pixel.
Example:
If you see that the price has fallen to 100 several times and bounced back up, then 100 is a support level. And if it has reached 120 several times and then turned back down, then 120 is a resistance level.