📅 DAY 5/30 — Understanding Support & Resistance 📊 $BTC
Support & Resistance are two of the most important concepts in technical analysis.
🟢 SUPPORT
A price area where buyers may become stronger and price can potentially react upward.
🔴 RESISTANCE
A price area where sellers may become stronger and price can potentially react downward.
📌 SIMPLE EXAMPLE:
Price moves: $100 → $95 → $100 → $95 → $100
Here: • Around $95 = Support • Around $100 = Resistance
⚠️ Important: Support and resistance are usually ZONES, not exact single lines.
💡 Beginner Tip: Don’t enter a trade just because price reaches support or resistance.
Look for confirmation such as: • Candlestick rejection • Market structure • Breakout & retest • Volume • Higher-timeframe direction
🧠 Remember: Support = Buyers may defend the area
Resistance = Sellers may defend the area
📚 Learn first. Trade later. Risk management always comes first.
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