Risk disclaimer: I am not a financial advisor. Trading cryptocurrencies involves high risk, trade at your own risk. This is for entertainment purposes only

This teaching will be specifically dealing with support and resistance lines. I'll try to make this lesson as simple as possible.

What is support?

Horizontal support lines is a price point/level where price is kept up from falling. There may be a lot of confusion from new traders as there are many levels like these especially in the lower time frames, as for me I use the ones that are obvious/ that stands out when looking at price.

What is resistance?

Horizontal resistance lines is a price point/level that keeps price from going up.

S/R flips:

Support and resistance lines flips when the level is broken by price. Resistance when broken turns to support and support when broken turns into resistance. These SR flips tends to be significant if a candle closes(more about this in future lessons) in the broken price points.

Tests and retests:

The more times a support level is tested the weaker it becomes and same goes for resistance, the more times it is tested the weaker it becomes. As an entry point in SR flips the first time the broken resistance/support gets tested as support/resistance is a high probability for entry/exit point. This does not mean that you cant enter in the third or fourth retest, again entry and stop losses(which will be covered in future lessons) are entirely dependant on the trader. Time frame plays an important part in the retest of SR structures. Some retest are only visible on the lower time frame(5 min, 15 min) which tends to last for shorter term and some retests are visible on the middle and higher time frame(1hr, 4hr, daily chart) which tends to last for longer term.

Understanding the basic structure of Support and Resistance(and the many factors that comes along) will help you in making entry/exit points for your trading, and keep in mind if you are new to this game, consider trading in a paper trading account(available for free on platforms like TradingView) before putting in real world money. I wish you good luck in your trading and if you enjoyed this lesson consider leaving a btc tip on this address:

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