How to profit from volatility using support and resistance levels? 💰
Hello, traders! 👋 Want to master a strategy that will help you catch big market moves? Support and resistance levels are what you need!
What are they?
Support: a price level where an asset (for example, $BNB) usually stops falling as buyers step in.
Resistance: a level where price increases slow down as sellers take over.
How to trade?
Find key levels on the chart (use daily or 4-hour time frames).
When the price approaches support – get ready to buy.
When the price tests resistance – consider selling or wait for a breakout.
Breakout level? It's a signal for a strong move!
Example with $BNB : In 2023, $BNB bounced off support at $220 and broke resistance at $300 – the perfect moment for a trade!
Life hack: Add a volume indicator to confirm the strength of the breakout. High volumes = higher chances of success.
Ready to try? Open Binance, set up levels, and share your results in the comments! But remember: the market is unpredictable, so trade wisely!