Spot trade using Support and Resistance.

Spot the dip and buy. Spot the high and sell.

But how?

These might sound easy for others but this article is intended for newbies.

First and foremost. I want you to think that, 1BCH today is 1BCH tomorrow.

100$ today is 100$ tomorrow.

But,

1Bch is 1200$ now and will soon be 1850$. Or more after years.

And your,

100$ today is worth .08333+ BCH but if hits 1850$, your 100$ will be equivalent to 0.0540541+ bch, of course less fees. Lmao.

And if you possibly bought worth 100$ - 0.08333+ bch when its price is 1200$ and the bch market goes up to 1850$ your 100$ or 0.08333+ bch will become, 154.66$. Amazing right?

If you didn't buy today,

Your 100$ today is still 100$ once it hits 1850$.

But, then, market is volatile, and you wanted to take advantage of that. Volatile meaning, it goes up and down. Like a roller coaster ride. Down, Up, Up, Down. They call it, Bull or Bear or ATH or Dip. Traders call it support and resistance.

Support or the lowest of low, yet can be break.

Resistance or the higher of high, still can be break.

What do I mean?

Imagine your in a bathroom, pooping, sorry for those who are eating.

When you look down, you see tiles or granite or probably whatever the finish of your floor. But once you break it with a concrete drill with a high pressurize hammer tool, you'll see your poop. Kidding, but you'll probably see the adhesive used when your floor is tiles or granite. And what do you need in order to break the underlying supports to actually break another support? Another pressurize hammer, you need to pull the hammer up and then apply the pressure on the adhesive! What a massive explosion of poops.

And that hammer will went up. Making a new resistance! And that resistance can also be break if the support is too strong! Now after looking down, look up above the ceiling of your bathroom. Smelling your poop? Haha. Don't focused on that-instead look at the finish of your ceiling you can probably see a gypsum board painted with whatever the color of paints, or it can be a glass finished if your too obsessed with yourself. Lmao. Once the hammer hit that, and break that, you can't see the sky yet, but the roofing, or if your bathroom has another floor above it can be a concrete. And that would need another pressurize bounced on the floor in order to actually break that.

Did I send the message clear?

Support -pressure- resistance.

Once you fully understand the concept of support and resistance you could now used it as a spot trading guide.

But,

I want you to remember that, when the resistance has been broken so high, it can also create a new support level. Be careful on selling!

You might sell at the beginning of the breaking of resistance.

And,

Always remember, to be patient in buying, you might buy at the middle, when you thought, it won't hit the floor or the support.

Moreover,

To avoid these, cut your buying and selling strategies, don't do all ins when it doesn't hit the support yet. Or when it hits the resistance and your unsure if the pressure of the hammer will hit it and break it.

Furthermore,

Always remember, a small gain is still a gain. Don't get too greedy.

Additionally, Always do your own research.

In line with this, I have attached here what support and resistance looks like.

The line pointing out, when you are in downtrend it is the support. And when you are in the uptrend it is the resistance.

If you are planning to sell when it goes up, don't sell all in below the level of resistance. If you plan to buy don't buy at the middle of previous ath and the new ath. Because, you might lose your bitcoin cash.

Always remember. Do not underestimate the pressurized hammer. Your bathroom might be build during the Renaissance period with a high level of strength, it deteriorates overtime. So, using support and resistance is one of the strategy you can used to accumulate more bitcoin cash. But, do not rely only to it.

And, of course, these is base from what I have experience.

I sold 1/4 of my bch in binance at 1600$ price and buy back at 1390$ without waiting to hit the support level. And I forgot the power of hammer, in order to break another high it needs to bounce back at the support level to increase the pressure to break another ath. You'll never know after your roof is it the sky after the sky is it the moon?

Lmao.

Always remember, patience is a skill! Patience is the key. Don't fomo sell, dont fomo buy. Been there, done that. Manage your emotion to be able to managed your risk. And spot trade is for longer trade. You cannot make money that easy!

Are you bored?

I am sleepy. Loving sleep these days.

Thanks for reading. :) And I hope I have delivered the concept of support and resistance in a simple way, (correct me if I am wrong), and how I apply them based on my experience.