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This content is for beginners to understand the upcoming sessions.
Content #2
What is support and resistance ?
Support and Resistance are like the floor and ceiling for a cryptocurrency's price.
Support = Floor
Imagine the price of Bitcoin is falling.
At some point, it hits a level where it stops falling and bounces back up.
That level is called supportāit's like a floor that holds the price up.
It happens because a lot of people want to buy at that price.
Resistance = Ceiling
Now imagine the price is going up.
It reaches a level where it stops rising and starts falling.
That level is called resistanceālike a ceiling that the price struggles to break through.
This is where many people want to sell.
Example:
Bitcoin is at $28,000
It falls to $26,000 and keeps bouncing back up from there = Support at $26,000
It rises to $30,000 and keeps falling back down from there = Resistance at $30,000
Traders use support and resistance to guess where prices might stop or reverse. It helps them decide when to buy or sell.
This content is for beginners to understand the upcoming sessions.
Content #2
What is support and resistance ?
Support and Resistance are like the floor and ceiling for a cryptocurrency's price.
Support = Floor
Imagine the price of Bitcoin is falling.
At some point, it hits a level where it stops falling and bounces back up.
That level is called supportāit's like a floor that holds the price up.
It happens because a lot of people want to buy at that price.
Resistance = Ceiling
Now imagine the price is going up.
It reaches a level where it stops rising and starts falling.
That level is called resistanceālike a ceiling that the price struggles to break through.
This is where many people want to sell. Example: Bitcoin is at $28,000 It falls to $26,000 and keeps bouncing back up from there = Support at $26,000 It rises to $30,000 and keeps falling back down from there = Resistance at $30,000 Traders use support and resistance to guess where prices might stop or reverse. It helps them decide when to buy or sell. #BTC
Within just a few hours, the value of this coin has dropped by nearly 90%. Investing in crypto can leave you on the streets overnight. People here have gone from rags to richesāand from riches to ragsāin a matter of hours.
Greed is dangerous. Whatever you do, do it while keeping yourself completely safe.