🚀 BINANCE FOR BEGINNERS — LESSON 8
🧱 SUPPORT & RESISTANCE
Today we learn two important concepts used when analyzing crypto charts.
1️⃣ What is Support?
Support is a price area where the price has previously found buying interest and stopped falling or bounced upward.
Example:
BTC falls toward $100,000, then repeatedly moves back up.
👉 $100,000 may act as a support area.
2️⃣ What is Resistance?
Resistance is a price area where the price has previously faced selling pressure and stopped rising or moved downward.
Example:
BTC rises toward $110,000, then repeatedly falls.
👉 $110,000 may act as a resistance area.
3️⃣ Simple Picture
Resistance 🔴
──────────── $110,000
⬇️ Price may fall
📊
⬆️ Price may rise
──────────── $100,000
Support 🟢
4️⃣ Important Rule ⚠️
Support and resistance are areas, not guaranteed exact prices.
A support level can break.
A resistance level can also break.
That's why you should not make a trading decision based on one level alone.
🎯 LESSON 8 TASK
Open a BTC/USDT chart on Binance.
Find:
One area where price has bounced upward several times.
One area where price has fallen after reaching it several times.
Mark them as Support and Resistance.
Observe what happens when price approaches those areas.
Next lesson: 📈 Moving Averages — how traders use them to identify trends.