$BTC fell below the 83000 mark.
I used to wonder why everyone kept their eyes on round-number levels. Then I realized: traders tend to place orders and set take-profit levels around round numbers, so orders cluster there and buying and selling become more concentrated near those levels. Over time, they turn into psychological barriers.
The first rebound after a break below is often seen as a litmus test: if the price is turned back below the level, the idea that support has become resistance is more convincing.
The point of understanding an indicator is to avoid being misled by a single number, not to use it to predict whether prices will rise or fall.
#BTC
I used to wonder why everyone kept their eyes on round-number levels. Then I realized: traders tend to place orders and set take-profit levels around round numbers, so orders cluster there and buying and selling become more concentrated near those levels. Over time, they turn into psychological barriers.
The first rebound after a break below is often seen as a litmus test: if the price is turned back below the level, the idea that support has become resistance is more convincing.
The point of understanding an indicator is to avoid being misled by a single number, not to use it to predict whether prices will rise or fall.
#BTC