During the October 7 daily candle, all five names spent some time below their respective round-number levels, then closed back above them. Bitcoin BTC made a low of 83,585, dipping 0.5% below 84,000; Numeraire made a low of 15.56, dipping 2.7% below 16; Phala made a low of 0.069, dipping 1.6% below 0.07; API3 made a low of 0.322, dipping 2.3% below 0.33; and Ark made a low of 0.203, dipping 7.9% below 0.22. The difference in depth between the shallowest and deepest dips was around 16 percentage points.
How far away a level is depends on the price unit of each asset. Bitcoin BTC’s 84,000 level was less than half a percent away from its price of over 80,000, while Ark’s 0.22 level was 7.9% away from its price around 22 cents. A round number is still a round number for everyone, but it is not the same distance away for everyone: use each asset’s closing price as the denominator, and the depth naturally scales with its price unit.
I divided each asset’s trading volume for the day by its seven-day average: API3 came in at 148%, Bitcoin BTC at 43.7%, the one that closed at 16 at 71%, the one that closed at 0.07 at 15%, and Ark at just 6.1%. The one carrying the most volume did not line up with the deepest dip. Ark ranked last in volume despite having the deepest dip, while the asset at 148% ranked only third in depth.
The seven-day direction tells a different story: the one that closed at 16 was up 49.3%, the one at 0.07 was down 10.4%, Ark was down 20.3%, and the one at 0.33 was up 14.9%. For two of these four, the day’s direction and the seven-day direction were opposite: when one pointed up, the other pointed down, and vice versa. Depth, the seven-day picture, and the day’s trading strength each produce a different grouping.
All five closed above their levels that day, but none of their seven-day averages had been pushed above the corresponding level. For the assets with the deepest dips, the seven-day direction was actually downward.
Based on the current readings, the groups formed by the five round-number levels according to dip depth do not match the groups formed by trading volume. What separates them is the denominator set by each asset’s price unit. If one day Bitcoin BTC dips below 84,000 and closes beneath that level, while all the assets with the smallest price units close above theirs, this argument is invalidated on the spot. To check the depth of each of these five levels, the day’s high and low on the Binance Spot page give you the actual figures. You can also compare the day’s low with the current price there before placing an order. This article records an opinion and does not constitute investment advice.$NMR
$API3
$PHA
#比特币跌破8.4万美元
How far away a level is depends on the price unit of each asset. Bitcoin BTC’s 84,000 level was less than half a percent away from its price of over 80,000, while Ark’s 0.22 level was 7.9% away from its price around 22 cents. A round number is still a round number for everyone, but it is not the same distance away for everyone: use each asset’s closing price as the denominator, and the depth naturally scales with its price unit.
I divided each asset’s trading volume for the day by its seven-day average: API3 came in at 148%, Bitcoin BTC at 43.7%, the one that closed at 16 at 71%, the one that closed at 0.07 at 15%, and Ark at just 6.1%. The one carrying the most volume did not line up with the deepest dip. Ark ranked last in volume despite having the deepest dip, while the asset at 148% ranked only third in depth.
The seven-day direction tells a different story: the one that closed at 16 was up 49.3%, the one at 0.07 was down 10.4%, Ark was down 20.3%, and the one at 0.33 was up 14.9%. For two of these four, the day’s direction and the seven-day direction were opposite: when one pointed up, the other pointed down, and vice versa. Depth, the seven-day picture, and the day’s trading strength each produce a different grouping.
All five closed above their levels that day, but none of their seven-day averages had been pushed above the corresponding level. For the assets with the deepest dips, the seven-day direction was actually downward.
Based on the current readings, the groups formed by the five round-number levels according to dip depth do not match the groups formed by trading volume. What separates them is the denominator set by each asset’s price unit. If one day Bitcoin BTC dips below 84,000 and closes beneath that level, while all the assets with the smallest price units close above theirs, this argument is invalidated on the spot. To check the depth of each of these five levels, the day’s high and low on the Binance Spot page give you the actual figures. You can also compare the day’s low with the current price there before placing an order. This article records an opinion and does not constitute investment advice.$NMR
$API3
$PHA
#比特币跌破8.4万美元