๐ Trading Education: Support & Resistance
Have you ever wondered why price suddenly stops falling or rising? ๐ค
One of the key reasons is Support & Resistance.
๐ข Support = A price level where buyers may become more active, potentially preventing the price from falling further.
๐ด Resistance = A price level where sellers may become more active, potentially preventing the price from moving higher.
๐ก Simple Example:
If
$BTC repeatedly bounces from the same price area, that area may act as Support. If
$BTC repeatedly gets rejected from a certain level, it may act as Resistance.
โ ๏ธ Remember: Support and Resistance are not guaranteed. Breakouts and fakeouts can happen, so always wait for confirmation and manage your risk.
#Binance #CryptoEducation๐ก๐ #trading #Bitcoin #Amir888 What do you expect nextโBreakout or Rejection? ๐
Do you use Support & Resistance in your trading?