Support and Resistance

Trend lines can also be used to plot support and resistance. However, other tools are also used for this purpose. 

Support and resistance are price levels at which are filled with a large amount of order blocks resulting in a strong reaction when price reaches these levels.

Support and resistance can exist horizontally or diagonally, or even at key psychological levels such as rounded numbers or repeating numbers such as $10,000 or $6,666.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Newsletter