The support is price area where we expect price to stop falling and probably reverse upward.
The support is the area that is tested from above and it is always below the current price.
Here is an example of support:
As you can see, this trend line was the area of interest many times.
In the area around that line, we have established support.
There is no rule to find out how many times support is going to hold out and you don’t even need that.
What you need is to know in which area there will be an increase in interest because that is usually the area that will offer a profitable trade setup.
Once you find an area like this one, you are waiting for the price to come closer to that area.
Even if it gets broken, you will have a trade opportunity but more about that later on in the course.
It is still an early phase where we are introducing you to the trading world.
Milos is an independent trader, with a background in journalism and publishing. Nomadic by nature, he’s lived in four different countries this decade. He’s fascinated by Blockchain technologies’ potential to reshape all aspects of our lives. Milos got into Bitcoin while completing his degree and hasn’t looked back since, writing about anything crypto-related. He is the co-founder of the Cryptoaims and he has a strong passion to educate people about this revolutionary technology.