#BinanceTurns8

📈 Basics of Analysis and Trading for Beginners 🔍

Learn how to read the market in simple steps!

📊 1. What is support and resistance?

🟢 Support: It is the price at which the decline usually stops… it means buyers start buying at this level.

🔴 Resistance: It is the price that stops the rise… it means selling starts happening significantly.

↕️ If the price breaks through resistance = possibility of an increase

↕️ If it breaks support = possibility of a decrease

📌 Knowing these two levels helps you in:

– Knowing when to buy

– And when to sell or wait

🧩 2. How to read a currency chart quickly?

– Open the chart for any currency

– Change the time frame to 1 hour or 1 day depending on your style

– Observe the price movement, and whether there is an upward 📈 or downward 📉 trend

– Use candlestick charts to understand price movement more clearly

✅ Are there peaks and troughs?

✅ Is the price approaching a support or resistance area?

⏳ 3. The difference between day trading and long-term investing:

📅 Day Trading:

– Opening quick trades within the same day

– Requires real-time monitoring + technical knowledge

⚠️ It has high risks! Not suitable for beginners

📆 Long-term Investing:

– Buying a strong currency and holding it for months or years

– Less stressful, based on trust in the project

✅ Very suitable for beginners and those with a long-term perspective.