A note: $AAVE broke through the 170 level.
People often ask what a key psychological level means. This is how I understand it.
One lesson from experience: a resistance level that is decisively broken often becomes support later on; a support level that is decisively broken often becomes resistance.
When prices seesaw around a key level, stop-losses on both sides may get triggered repeatedly. It may be wiser to sit tight or trade less until the direction becomes clear.
All data reflects an attempt to summarize past price movements, and the market could just as easily move in the opposite direction.
#AAVE
People often ask what a key psychological level means. This is how I understand it.
One lesson from experience: a resistance level that is decisively broken often becomes support later on; a support level that is decisively broken often becomes resistance.
When prices seesaw around a key level, stop-losses on both sides may get triggered repeatedly. It may be wiser to sit tight or trade less until the direction becomes clear.
All data reflects an attempt to summarize past price movements, and the market could just as easily move in the opposite direction.
#AAVE