Night Owl Alert: $LUMIA has fallen below the 0.11 level.
Round-number levels are just ordinary numbers to prices, but people see them as a big deal.
On a more serious note, the longer it’s been since the price last reached this level, the more the positioning structure around here is likely to have changed. The support and resistance from back then may no longer hold.
Understanding an indicator is about being less spooked by a single number—not using it to pinpoint tops and bottoms.
#LUMIA
Round-number levels are just ordinary numbers to prices, but people see them as a big deal.
On a more serious note, the longer it’s been since the price last reached this level, the more the positioning structure around here is likely to have changed. The support and resistance from back then may no longer hold.
Understanding an indicator is about being less spooked by a single number—not using it to pinpoint tops and bottoms.
#LUMIA