Understanding support and resistance levels, you too can earn over ten thousand a month from trading!

Many people tell me: trading is too difficult, the market is always hard to understand, and I don’t know when to enter or exit. Actually, I was the same way at the beginning.

I remember when I first entered the market in 2017, I stared at the candlestick charts all night, and the next day in a moment of impulse, I went all in and bought at the peak, watching my account lose half its value. At that moment, I realized that relying solely on luck wouldn’t get me far; I had to learn the 'language of the market.'

In my 8 years of trading experience, there is one core concept that has helped me avoid countless pitfalls—that is support and resistance levels. Simply put, they are the psychological thresholds of the market.

For example: Suppose the coin price drops to a low of 5 yuan and is then bid up to 10 yuan. When it reaches 10 yuan, fewer and fewer buyers come in, and eventually, no one is left to pick it up, causing the price to start falling. When it drops back to 5 yuan, those who missed the chance to buy last time will rush in, thus 5 yuan becomes a support level; while 10 yuan becomes a resistance level, where there will always be sellers when the price rises to this point.

This is the simplest principle of support and resistance—stemming from the herd mentality of the market.

Of course, in actual trading, mere imagination is not enough. We also need to combine indicators such as areas of concentrated holdings, moving average positions, long bullish/bearish lines with volume, trend lines, etc., to confirm key price levels. This way, you can pre-position yourself when others are confused, achieving 'buy low, sell high' instead of chasing prices up and down.

If you can understand and skillfully apply this, trading can indeed yield a monthly income of over ten thousand.

This is the valuable information I wanted to share; I hope it helps you. If you found it useful, please remember to like and bookmark it, so you won’t have trouble finding it later. If you have any questions, feel free to leave a message, and I will reply when I have time.

Remember: enter without doubt, hold without fear. Close without regret, and don’t rush when empty.