Essential Skills for Crypto Trading: Support Lines, Resistance Lines, Trend Lines, and Channel Lines!
Want to minimize liquidation and avoid detours in the crypto market?
You must understand the basic tools: Support Lines, Resistance Lines, and Trend Lines. Don’t underestimate them; the true experts rely on these to profit!
1. Support Line & Resistance Line = Market's Floor and Ceiling
Support Line: When the price drops to a certain level and stops falling, even bouncing back, that's support!
Commonly known as the "floor"; if it holds, the market can mount a strong counterattack.
Resistance Line: When the price rises to a certain level and can't break through, beginning to retreat, that's resistance!
Commonly known as the "ceiling"; if it can't break through, don't chase it wildly.
Remember: When support breaks, it becomes resistance, and when resistance breaks, it becomes support; roles can switch at any time!
This is the key point where the market can turn.
2. Trend Line = Market's Steering Wheel
Uptrend: Connect two low points to create an uptrend line.
Downtrend: Connect two high points to create a downtrend line.
A truly effective trend line must be validated more than three times to be considered a "steering wheel".
Trading with the trend significantly increases your chances of profit!
3. Channel Line = Fast Track to Wealth
After drawing the trend line, pass over the first peak or trough, and draw a parallel line to get the channel line.
Upward Channel: The exclusive track for bulls to profit.
Downward Channel: The sniper corridor for bears to harvest profits.
Note: Breaking the trend line = possible reversal! Breaking the channel line = trend acceleration!
Whoever can hold the channel will be the first to capture the accelerated wealth opportunities in the market!
Final Key Reminder: The larger the cycle, the more accurate the lines!
For intraday, look at H1; for medium-short term, look at H4; for medium-long term, look at daily.
Never underestimate the "power of the lines"; 90% of market turning points are related to them.
Brothers, the market doesn’t speak, but "Candlestick + Support and Resistance + Trend Channel" is the language of the market!
Master this set of methods, and you will be able to understand the market's breath and position yourself to profit in advance!
