1.Support and Resistance Basics:
Support levels are where strong buying positions cluster. These levels tend to prevent the price from breaking below.
Resistance levels are where strong selling positions cluster. They tend to prevent the price from breaking above.
2.Using Support and Resistance:
In uptrends, consider buying near support levels.
In downtrends, consider selling near resistance levels.
3 Traderâs Cheat Sheet:
Blue areas below the last price act as support to limit downward moves.
Red areas above the last price act as resistance to limit upward moves.
Blue areas above the last price confirm upward moves.
Red areas below the last price confirm downward moves1.
:Remember that support and resistance levels are dynamic and subject to change. Use them as part of your overall trading strategy, considering other factors as well. Happy trading! đđ
#BinanceTournament #LayerZero #ETHETFsApproved #CPIAlert #MicroStrategy
