Sell Resistance Definition
a. Sell resistance denotes how resistant the traders in a market are to buy through sell orders (if sell orders are relatively small in size, a trader can assume that if he buys into a coin, he can profit without an excessively huge amount of volume being injected into the coin however, if there are multiple sell orders on the sell side that are large in size a trader will be more reluctant to buy because there will need to be a huge influx of volume to move the price of coin to provide him with a profit.)
Typically, when sell resistance is high the price will not move. However, when sell resistance is low, the price of a coin is free to shoot upwards as there are no blockades or walls in place to stall or prevent this rise in value.
As you can see in the above image, DOGE requires an injection of 35.2 BTC before it moves from 64 Satoshi, to 75 Satoshi which is only a 17% gain.
Looking at the above image, you can see that POT only requires a mere injection of 1.6 BTC before the price moves from 600 satoshi, to 874 satoshi which is a 45% gain will easily run further.
You see guys, timing is everything... If you dont know how to time your trades, then you are better off sending all of your BTC into a paper wallet, and then putting that paper wallet directly into a shredder.
If you arent aware of how to time your trades, then you are literally throwing money away.
a. Sell resistance denotes how resistant the traders in a market are to buy through sell orders (if sell orders are relatively small in size, a trader can assume that if he buys into a coin, he can profit without an excessively huge amount of volume being injected into the coin however, if there are multiple sell orders on the sell side that are large in size a trader will be more reluctant to buy because there will need to be a huge influx of volume to move the price of coin to provide him with a profit.)
Typically, when sell resistance is high the price will not move. However, when sell resistance is low, the price of a coin is free to shoot upwards as there are no blockades or walls in place to stall or prevent this rise in value.
As you can see in the above image, DOGE requires an injection of 35.2 BTC before it moves from 64 Satoshi, to 75 Satoshi which is only a 17% gain.
Looking at the above image, you can see that POT only requires a mere injection of 1.6 BTC before the price moves from 600 satoshi, to 874 satoshi which is a 45% gain will easily run further.
You see guys, timing is everything... If you dont know how to time your trades, then you are better off sending all of your BTC into a paper wallet, and then putting that paper wallet directly into a shredder.
If you arent aware of how to time your trades, then you are literally throwing money away.
Thanks for this ryan. So marking support and resistance lines on the chart is a waste of time?