🚀 Investment Strategy: Buy at Supports and Sell at Resistances 🚀
📊 In the crypto world, one of the most effective strategies is to buy at support levels and sell at resistance levels. But what does this mean and how can it help you maximize your profits?
🔑 What are supports and resistances?
Support: It is the level where the price tends to stop and reverse upwards. It is like the floor that holds the price of the cryptocurrency.
Resistance: It is the level where the price encounters obstacles to rise and tends to reverse downwards. It is the ceiling of the price.
📉 Step-by-step strategy:
Identify the support: Look for the point where the price has stopped falling previously. This is the level where you might consider making a purchase.
Sell at resistance: Once the price has risen and approaches a resistance level, consider selling to secure profits.
Repeat the cycle: With patience and discipline, this strategy can help you take advantage of market fluctuations.
📈 Applying this strategy to $PNUT :
Support: $0.2012 📉
Resistance: $0.2057 📈
