📍 Support and Resistance: A Beginner's Guide
Support is a price area where buying has previously helped slow or reverse a decline.
Resistance is an area where selling has previously helped slow or reverse a rise.
Three things I'm learning:
1️⃣ These are zones, not always exact prices.
2️⃣ Price can break through either zone.
3️⃣ A previous bounce doesn't guarantee another bounce.
I prefer observing several reactions rather than drawing conclusions from one touch.
Question: Do you mark support and resistance on the 15-minute chart or a higher timeframe first?
#BTC #tradingeducation #TechnicalAnalysis $BTC
Support is a price area where buying has previously helped slow or reverse a decline.
Resistance is an area where selling has previously helped slow or reverse a rise.
Three things I'm learning:
1️⃣ These are zones, not always exact prices.
2️⃣ Price can break through either zone.
3️⃣ A previous bounce doesn't guarantee another bounce.
I prefer observing several reactions rather than drawing conclusions from one touch.
Question: Do you mark support and resistance on the 15-minute chart or a higher timeframe first?
#BTC #tradingeducation #TechnicalAnalysis $BTC