🧮 Data: $MAGIC ｜Breaking through the 0.11 level
· What it means: A commonly cited rule is that a resistance level that is decisively broken often later becomes support, while a support level that is decisively broken often later becomes resistance.
· How to read it: The first rebound after a breakdown is often seen as a test: if the price is turned back below the level, the idea that support has turned into resistance becomes more convincing.
Don’t change your plan based solely on a single number, and don’t use borrowed money to test a reading.
#MAGIC
· What it means: A commonly cited rule is that a resistance level that is decisively broken often later becomes support, while a support level that is decisively broken often later becomes resistance.
· How to read it: The first rebound after a breakdown is often seen as a test: if the price is turned back below the level, the idea that support has turned into resistance becomes more convincing.
Don’t change your plan based solely on a single number, and don’t use borrowed money to test a reading.
#MAGIC