Resistance and support traps.
- Many people are being deceived by market makers or are intentionally reassuring themselves with Stop Loss and Take Profit. Resistance and support levels are only for top coins, those that have experienced dozens or hundreds of times getting stuck at a price level where many sharks are ready to jump in and buy, or large organizations like BTC, ETH, or BNB. Sometimes BTC even crashes like a junk coin. For smaller coins and Meme coins, there are no Stop Loss or Take Profit for you. Because most of those coins are entirely in the hands of sharks, a quick turn can wipe you out. For smaller coins, that resistance level is your wallet. Once the money is gone, that is the resistance level; while there is still money, it can still drop. So when you often ask me about Stop Loss and Take Profit, I always respond based on the candle and volume, because the candle size and volume cannot deceive you.
