๐ฅ Master the Crypto Floor & Ceiling: Support, Resistance, Retrace & Bounce Demystified!
๐ Crypto Essentials in BinanceโฏSquare Style
1. Support = the "floor" where buyers jump in to halt drops โ a prime bounce zone
2. Resistance = the "ceiling" where sellers step in to cap rallies โ ideal profit-taking or short setups
3. Retracement = a temporary pullback in an uptrend or downtrend โ a cooldown before continuation
4. Rebound = bounce off support/resistance signaling potential trend resumption or reversal
๐ก How To Apply Them
Mark zones using horizontal lines, trendlines, moving averages, and Fibonacci levels (23%, 38%, 50%, 61.8%)
Play bounces near support: buy with tight stops just below for favorable risk-to-reward
Ride breakouts above resistance on high volume โ it's often the start of a solid trend
Use Fibonacci retracements to fine-tune entry points on pullbacks
Confirm with volume & indicators (RSI, MACD, OBV) to avoid fakes
๐งญ Quick Tips to Remember
Treat levels as zones, not exact lines
Multiple touches = stronger level
Once broken, old support can flip to resistance (and vice versa)
Always manage risk: use stop-losses, smart position sizing & check reward vs. risk
#Crypto101 #SupportResistance #PriceAction #BinanceSquare #TradingTips
