First, very well!
If you want to learn something about the market and invest in things that YOU think are going to make YOU profit, that means you're not just gambling or listening to forecasts by other people!
So, what is resistance and support?
This terms are used to describe certain prices at which the market slows down or completely reverses, for example:
- If the price of BTC has gone up to 10k and bounced back to 9-8, it there may be a resistence there. The more times the price hits a possible resistnce and bounces back, the stronger it becames
- In the other cenario, if the price has gone down to 7k and bounced back, there may be a support there.
The reason why it is there might be psicological or have something to do with the fundamentals of the asset; or even for (almost) no reason at all.
Rember that the market is driven by crowds, so as people come in and go out, they often do not know where is support and resistance. This means that the older the levels become, the weaker they became
I hope this helps you and good investments!