1. Support and Bullish Bias:

When an asset's price reaches a support level (a price point where it tends to stop falling and may reverse), traders often adopt a bullish bias. They expect the price to bounce back up from that support level.

In other words, at support, traders are optimistic about the asset's future price movement.

2. Resistance and Bearish Bias: Conversely, when an asset's price approaches a resistance level (a price point where it tends to stop rising and may reverse), traders often become bearish. They expect the price to decline from that resistance level. At resistance, traders are cautious and anticipate a potential downward move.3. Broken Support Retest and Bearish Signal:

If a support level is broken (the price falls below it), and then the price retraces back to test that former support level (now acting as resistance), it's considered a bearish signal.

Traders interpret this as a confirmation that the previous support has turned into resistance, suggesting further downside potential.

4. Broken Resistance Retest and Bullish Signal:

Conversely, if a resistance level is broken (the price rises above it), and then the price retraces back to test that former resistance level (now acting as support), it's seen as a bullish signal.

Traders view this as confirmation that the previous resistance has become support, indicating potential upward movement.

:Remember, these principles help traders make informed decisions based on price levels and historical behavior. 😊📈📉#Write2Earn! #BinanceTurns7 #Megadrop #CPIAlert #US_Job_Market_Slowdown