Support & Resistance in Crypto Trading (Explained Simply)

Support and resistance levels are important points in time where the forces of supply and demand meet. These support and resistance levels are seen by technical analysts as crucial when determining market psychology and supply and demand. When these support or resistance levels are broken, the supply and demand forces that created these levels are assumed to have moved, in which case new levels of support and resistance will likely be established.

Support is the level at which demand is strong enough to stop the stock from falling any further. In the image above you can see that each time the price reaches the support level, it has difficulty penetrating that level. The rationale is that as the price drops and approaches support, buyers (demand) become more inclined to buy and sellers (supply) become less willing to sell.

Resistance is the level at which supply is strong enough to stop the stock from moving higher. In the image above you can see that each time the price reaches the resistance level, it has a hard time moving higher. The rationale is that as the price rises and approaches resistance, sellers (supply) become more inclined to sell and buyers (demand) become less willing to buy.

Join our Discord Channel: https://discord.gg/EcvqQaNzsD

Join our Telegram Group: https://t.me/+cTexh7QC3D9mNjdk

Subscribe to our newsletter: https://decentralised.news/newsletter/

Read the best selling book: TOKENIZED TRILLIONS: https://amzn.to/3BA2TOv

Also check out: BLOCKCHAIN APPLIED: https://amzn.to/3oT6QKU

Bitcoin Breakthrough FREE Training Guide: https://bit.ly/3GopaAJ

Books available for download at Payhip:
Tokenized Trillions: https://payhip.com/b/GF0Q
Blockchain Applied: https://payhip.com/b/fGg5

Recommended crypto platforms: https://decentralised.news/ecosystem/

Crypto resources: https://decentralised.news/resources/

All the tools you need to succeed online:
https://navigate-digital.com/

Peer-to-peer Marketing: https://proudlyassociated.com/

For top-level domains: https://heathmuchena.com/shop/

DISCLAIMER: The content on our site is for informational purposes only. Readers, viewers and listeners should not construe any such information or other material as legal, tax, investment, financial, or other advice. Nothing contained on our site constitutes a solicitation, recommendation, endorsement, or offer by Decentralised News to buy or sell any securities or other financial instruments in any jurisdiction in which such solicitation or offer would be unlawful under the laws of such jurisdiction.

#NotFinancialAdvice #DecentralisedNews #supportresistance #Blockchain #Metaverse #PlaytoEarn #CryptoInvestments #Bitcoin #BuyBitcoin #TokenizedAssets #DecentralisedFinance #Crypto #DigitalAssets #EarnCrypto #EarnBitcoin #Cryptocurrencies #DeFi #CryptoWallets #YieldFarming #Stocks #TokenizedStocks #CryptoNews #BitcoinNews #BestCryptoEducationChannel #CryptoEducation