$BTC fell below the 83,000 level.
A large number of stop-loss orders tend to cluster around round numbers, so let’s first talk about why key price levels matter.
Even among round-number levels, the rounder the number, the more people tend to watch it. For example, major levels like 10,000 or 100,000 attract more attention than ordinary round numbers.
The same data can mean very different things in different market conditions, so don’t apply any single rule mechanically.
A large number of stop-loss orders tend to cluster around round numbers, so let’s first talk about why key price levels matter.
Even among round-number levels, the rounder the number, the more people tend to watch it. For example, major levels like 10,000 or 100,000 attract more attention than ordinary round numbers.
The same data can mean very different things in different market conditions, so don’t apply any single rule mechanically.