In cryptocurrency, Resistance refers to a price point where a coin's price faces difficulty moving further upward and often drops back down from that level.
📊 Simple Example:
Suppose the price of Bitcoin is $90,000.
The price goes up to $91,000.
At that point, Sellers increase in number.
Instead of moving higher, the price pulls back down.
Therefore, the $91,000 level will be called Resistance.
🔥 Important Types of Resistance
Strong Resistance: A level where the price fails to break upward multiple times.
Weak Resistance: A level that the price can easily break through.
Breakout: When the price strongly breaks above the Resistance and moves higher.
Resistance Retest: When the price rechecks that same level after a breakout.
📈 Difference between Resistance and SupportResistance
Support
Barrier above the price
Support below the price
Selling Pressure
Buying Pressure
Price can move down
Price can move up
#CPITestsDecemberRateOutlook
📊 Simple Example:
Suppose the price of Bitcoin is $90,000.
The price goes up to $91,000.
At that point, Sellers increase in number.
Instead of moving higher, the price pulls back down.
Therefore, the $91,000 level will be called Resistance.
🔥 Important Types of Resistance
Strong Resistance: A level where the price fails to break upward multiple times.
Weak Resistance: A level that the price can easily break through.
Breakout: When the price strongly breaks above the Resistance and moves higher.
Resistance Retest: When the price rechecks that same level after a breakout.
📈 Difference between Resistance and SupportResistance
Support
Barrier above the price
Support below the price
Selling Pressure
Buying Pressure
Price can move down
Price can move up
#CPITestsDecemberRateOutlook

