$BAT broke through the 0.18 level.
How did this number come about?
Round-number levels attract attention mainly because people tend to place orders and take-profit points around them, so orders often cluster there. They’re also known as psychological levels.
The first rebound after a break below a level is often seen as a litmus test: if the price is pushed back down below the level, that lends support to the idea that support has turned into resistance.
Comparing several indicators is more reliable than looking at just one, but even multiple signals can’t provide a definitive answer.
#BAT
For documentation and sharing purposes only; this is not investment advice.
How did this number come about?
Round-number levels attract attention mainly because people tend to place orders and take-profit points around them, so orders often cluster there. They’re also known as psychological levels.
The first rebound after a break below a level is often seen as a litmus test: if the price is pushed back down below the level, that lends support to the idea that support has turned into resistance.
Comparing several indicators is more reliable than looking at just one, but even multiple signals can’t provide a definitive answer.
#BAT
For documentation and sharing purposes only; this is not investment advice.