🔥Quick Guide to Identifying Support, Resistance, and Price Action🔥
🟡 Yellow Dotted Lines (Resistance):
For the below chart
0.011590, 0.016006, and 0.018530 are key resistance levels where the price may face difficulty moving higher.
🟠 Orange Trend Line (Downtrend):
The price was falling but broke above this line, indicating a potential shift to an upward trend.
⚪️ White Arrow (Future Path):
Shows expected price movement: rising, consolidating at resistance levels, and potentially continuing upward.
🔴 Support and Resistance Basics 👇
-- Identify past price levels where price struggled (resistance/support).
-- Watch for breakouts above/below these levels to anticipate new trends.
-- This chart suggests a breakout above 0.011590, with potential for further gains.
