Crypto market drama update: $BMT broke through the 0.04 mark, 75 days since it last reached this level.
To a candlestick chart, a round-number threshold is just a number; to people, it can be a psychological barrier.
On a more serious note, even among round-number thresholds, the bigger the number, the more people tend to watch it. For example, major milestones like 10,000 or 100,000 tend to attract more attention than ordinary round numbers.
The same data can mean very different things in different market conditions, so don’t blindly apply a rule of thumb from a single example.
To a candlestick chart, a round-number threshold is just a number; to people, it can be a psychological barrier.
On a more serious note, even among round-number thresholds, the bigger the number, the more people tend to watch it. For example, major milestones like 10,000 or 100,000 tend to attract more attention than ordinary round numbers.
The same data can mean very different things in different market conditions, so don’t blindly apply a rule of thumb from a single example.