How to Find Support and Resistance

You want to learn technical analysis but Are not sure where to start give me 60 Seconds and I will break down the basics Of ta so that you can do it with Confidence technical analysis can seem Really intimidating at first with all The lines indicators and fancy terms but It doesn't have to be so complicated the Core Foundation of ta relies on just two Concepts support and resistance let's Break it down real quick support is the Price level where downtrends tend to Stop because there's more buying Pressure it acts like a floor preventing Further price drops resistance is the Opposite it's where uptrends face Selling pressure and coins struggle to Move higher like hitting a ceiling so How do you spot these support and Resistance levels well some common Techniques are using trend lines to Connect previous highs and lows looking At moving averages analyzing old Peaks And valleys or using Fibonacci Retracements once you identify possible Support and resistance levels mark them By drawing horizontal lines across the Chart these acts as barriers where the Price may break down or break out use Support and resistance to make strategic Trading decisions around entries stop Losses and take profits it gives you an Edge


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