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📘Crypto Basics : Lesson 10
What is Resistance?
Resistance is a price level where the market finds it difficult to move higher.
In simple words:
Support stops price from going down
Resistance stops price from going up
Why does resistance form?
Price previously moved up and came back down from that area
Many traders place sell orders there
Sellers become stronger than buyers
How to identify resistance?
Price touches the same level many times
Upper wicks appear on candles
Candles fail to close above that level
📌 Important Rule:
Never buy blindly at resistance.
$JTO $PLAY $SOMI
#Write2Earn #Binance #CryptoBasics #crypto #BinanceSquare
What is Resistance?
Resistance is a price level where the market finds it difficult to move higher.
In simple words:
Support stops price from going down
Resistance stops price from going up
Why does resistance form?
Price previously moved up and came back down from that area
Many traders place sell orders there
Sellers become stronger than buyers
How to identify resistance?
Price touches the same level many times
Upper wicks appear on candles
Candles fail to close above that level
📌 Important Rule:
Never buy blindly at resistance.
$JTO $PLAY $SOMI
#Write2Earn #Binance #CryptoBasics #crypto #BinanceSquare
Ansvarsfriskrivning: Inkluderar åsikter från tredje part. Ingen ekonomisk rådgivning. Kan innehålla sponsrat innehåll. Se användarvillkor.
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