learnsupportresistence

# Mastering support/resistance

Why It’s Important?
• Trading without chart patterns or support/resistance is like navigating without a map.
• These tools help predict price moves, reversals, and breakouts effectively.

1. Support and Resistance (Basics & Advanced)

What is Support/Resistance?
• Support: A price level where demand (buyers) stops the price from falling further.
• Resistance: A price level where supply (sellers) stops the price from rising higher.

How to Trade:
• Bounce Strategy: Buy at support; sell at resistance.
• Breakout Strategy: Trade a breakout when price breaches support or resistance with strong volume.

Advanced Tip:
• Treat broken support as new resistance and broken resistance as new support (Flip Zones).

Example:
• BTC holds support at $28,000 multiple times, forming a strong buy zone. After a breakout above $30,000, $30K now becomes new support.!

Next topic: Chart pattern
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