SUPPORT AND RESISTANCES: THE BASIS OF TECHNICAL ANALYSIS💵🚀💰
Support:
- It is a zone where the price usually stops its decline and bounces back.
- It works because at that level there are more buyers than sellers.
- Buying near support reduces risk and allows you to place a logical Stop Loss just below.
Resistance:
- It is a zone where the price usually stops its rise and retraces.
- Here there are more sellers than buyers.
- Avoid buying near resistances, because it is where rises are most halted.
Key to using both:
- If the price breaks a support, it usually continues to fall.
- If it breaks a resistance with volume, that area often becomes new support.
- The more times a level is respected, the stronger it is.
- Mastering support and resistance is the first step to stop trading on impulse and start planning smart entries.
$BTC #AnalisisTecnico #tradingeducation #CryptoTrading.
