technic

Ever wondered why the price of Bitcoin ($BTC) bounces up from a certain level or stops going higher at another? These are called Support and Resistance.
1️⃣ What is Support? (The Floor 🧱)
Support is a price level where a downtrend tends to pause due to a concentration of demand (Buying Power).
Think of it as: A safety net that prevents the price from falling further.
Action: Traders usually look to BUY near support.
2️⃣ What is Resistance? (The Ceiling 🏠)
Resistance is a price level where an uptrend tends to pause due to a concentration of supply (Selling Power).
Think of it as: A roof that the price struggles to break through.
Action: Traders usually look to SELL or take profits near resistance.
Pro Tip: The more times a price touches a support or resistance level without breaking it, the stronger that level becomes! 💪
Stay tuned for Part 2 to learn how to draw these levels on your chart! ✍️
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