📅 Day 51 of 100 – Support & Resistance: Spot Entry Zones Like a Pro 🔍
Yesterday we learned how to read charts. Today, we master one of the most powerful tools in trading: Support and Resistance.
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🧱 What is Support?
Support is a price level where a downtrend tends to pause or bounce due to buying interest.
🟩 Think of it as the “floor” — price hits it and bounces back up.
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🧱 What is Resistance?
Resistance is a price level where an uptrend tends to pause or reverse due to selling pressure.
🟥 Think of it as the “ceiling” — price rises to it and gets pushed back down.
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📉 How to Spot Them:
Look for repeated bounce points (support)
Look for repeated rejection points (resistance)
Use line tools on Binance charts to draw them
Use horizontal lines, not diagonals for beginners
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🔁 Role Reversal
Once broken, support can become resistance, and resistance can become support. Traders call this a breakout or breakdown.
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🧠 Why They Matter:
Helps plan entry and exit points
Helps set stop-loss and take-profit levels
Confirms trend strength or weakness
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📌 Action Step:
Open any chart on Binance (e.g., $ETH /USDT), zoom out to the 1D or 4H view, and try marking 2 support levels and 2 resistance levels. Watch how price reacts around them!
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Next up: Day 52 – Trendlines & Channels: Following the Flow 🚀
