Market Notes｜$BTW ｜Lost the 1.6 level
Definition: Even among whole-number levels, the rounder the number, the more people tend to watch it. Major levels such as whole tens of thousands or hundreds of thousands usually attract more attention than ordinary whole numbers.
Common approach: It’s not uncommon for prices to break through a level and then fall back, so many people wait for confirmation at candle close before treating it as a breakout, rather than following the move the moment it crosses the level.
It’s much more reliable to calculate your position size based on where you place your stop-loss than to trade on instinct.
#BTW
Crypto assets can move quickly, so keep your position size in check.
Definition: Even among whole-number levels, the rounder the number, the more people tend to watch it. Major levels such as whole tens of thousands or hundreds of thousands usually attract more attention than ordinary whole numbers.
Common approach: It’s not uncommon for prices to break through a level and then fall back, so many people wait for confirmation at candle close before treating it as a breakout, rather than following the move the moment it crosses the level.
It’s much more reliable to calculate your position size based on where you place your stop-loss than to trade on instinct.
#BTW
Crypto assets can move quickly, so keep your position size in check.