$BTC Looks like it's chopping for a while, use this time to brush up on your skills. Read about Support and Resistance 👉
Support: Support levels are areas where the price has historically had difficulty falling below. They represent levels where buying interest is strong enough to counteract selling pressure, preventing the price from declining further. In crypto, support levels are often identified by previous lows in the price chart. When the price approaches a support level, traders may expect buying interest to increase, potentially leading to a bounce or reversal.
Resistance: Resistance levels are areas where the price has historically struggled to move above. They represent levels where selling interest is strong enough to counteract buying pressure, preventing the price from rising further. In crypto, resistance levels are often identified by previous highs in the price chart.
When the price approaches a resistance level, traders may expect selling pressure to increase, potentially leading to a pullback or reversal. Identifying support and resistance levels is crucial for traders and investors as they can be used to:
Determine entry and exit points for trades. Set stop-loss orders to limit potential losses. Assess the strength of a trend and anticipate potential price movements. Adjust trading strategies based on price reactions at these levels.
After the Bitcoin halving event, the supply of new bitcoins entering circulation reduces by half.
Historically, this has been followed by a period of increased demand and upward price movement due to the decreased supply and potentially increased scarcity.
However, market reactions can vary, and factors such as investor sentiment, adoption trends, and macroeconomic conditions also influence Bitcoin's price movements post-halving.
Guys these PUMP and DUMS are just scams to take your money!!!!!
YOU WILL BE THE EXIT LIQUIDITY! BE SMART!
👉👉Pump: The schemers artificially inflate the price of a low-volume or low-market-cap cryptocurrency by spreading positive news, and rumours, or engaging in coordinated buying. This creates a sudden surge in demand and drives up the price rapidly.
👉👉Dump: Once the price has been pumped to a desirable level, the schemers sell off their holdings in large quantities, causing the price to plummet due to the sudden increase in supply. This leaves other investors who bought in during the pump phase with overvalued or worthless assets.