🐋 $GTC fell below the 0.29 level (current price: 0.2961, now back above it).
A large number of stop-loss orders tend to cluster around key levels, so first, let’s understand how these levels can have an effect.
Even among round-number levels, the rounder the number, the more attention it tends to attract. For example, major levels like 10,000 or 100,000 tend to draw more attention than ordinary round numbers.
The point of understanding an indicator is to be less intimidated by numbers, not to use it to predict price movements precisely.
#GTC
A large number of stop-loss orders tend to cluster around key levels, so first, let’s understand how these levels can have an effect.
Even among round-number levels, the rounder the number, the more attention it tends to attract. For example, major levels like 10,000 or 100,000 tend to draw more attention than ordinary round numbers.
The point of understanding an indicator is to be less intimidated by numbers, not to use it to predict price movements precisely.
#GTC