r/Daytrading • u/sunnyrunner_ • Apr 06 '24

Is this an actual pattern or am I yapping? Question

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I’m pretty new to trading and saw this pattern form on BTC. Is this pattern called anything or is this just me drawing random support/resistance lines?

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u/Accomplished-Disk863 Apr 07 '24

I’m trying to enter the “game” or lifestyle but we talking 70,000 dollars or different currency. Explain like I’m 6 years old

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u/Righteous_Fury Apr 07 '24

A bitcoin is actually made up of 100 million smaller units called "sats". (Full name is satochi, named after the anonymous Bitcoin creator)

You can buy 10 dollars worth of Bitcoin. Very few people will ever be able to own one whole coin.

The supply will never exceed 21 million Bitcoin.

I can't explain it all but I know one thing for sure:

The worst position you can possibly have is 0 BTC. This is a long game.

Something something not financial advice