$XRP has fallen below the 1.4 level.
Everyone, how should we think about support and resistance? Here’s the short version 👇
One rule of thumb: a resistance level that’s decisively broken often turns into support; a support level that’s decisively broken often becomes resistance.
Many people use these levels as reference points for managing positions: which side of a level you’re on and where you set your stop-loss are more practical considerations than trying to predict the direction.
Sizing your position based on the distance to your stop-loss is much more reliable than just guessing.
#XRP
Everyone, how should we think about support and resistance? Here’s the short version 👇
One rule of thumb: a resistance level that’s decisively broken often turns into support; a support level that’s decisively broken often becomes resistance.
Many people use these levels as reference points for managing positions: which side of a level you’re on and where you set your stop-loss are more practical considerations than trying to predict the direction.
Sizing your position based on the distance to your stop-loss is much more reliable than just guessing.
#XRP