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QUICK CLASS - WHAT IS #RESISTANCE?!
In the context of trading, a RESISTANCE is a price level where an asset finds it difficult to continue rising. This level is formed because sellers tend to enter the market when the price reaches this level, overcoming the demand of buyers and preventing the price from rising further.
How resistance works:
1. Resistance tests: The price may test the resistance several times, retreating after each failed attempt to break through.
2. Order accumulation: Many traders place sell orders close to the resistance, which creates a psychological barrier.
3. Resistance breakout: If the price manages to break through the resistance with significant volume, this indicates a possible breakout, turning the resistance into new support.
4. False breakout: Sometimes, the price may briefly break through the resistance before returning to lower levels, catching traders off guard.
UNDERSTAND?? Questions about this?
$BTC
$XRP
$LTC
#BinanceAlphaAlert #VeThorOnBinance
In the context of trading, a RESISTANCE is a price level where an asset finds it difficult to continue rising. This level is formed because sellers tend to enter the market when the price reaches this level, overcoming the demand of buyers and preventing the price from rising further.
How resistance works:
1. Resistance tests: The price may test the resistance several times, retreating after each failed attempt to break through.
2. Order accumulation: Many traders place sell orders close to the resistance, which creates a psychological barrier.
3. Resistance breakout: If the price manages to break through the resistance with significant volume, this indicates a possible breakout, turning the resistance into new support.
4. False breakout: Sometimes, the price may briefly break through the resistance before returning to lower levels, catching traders off guard.
UNDERSTAND?? Questions about this?
$BTC
$XRP
$LTC
#BinanceAlphaAlert #VeThorOnBinance
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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