🐋 $GTC has fallen below the 0.2 level.
Round-number levels often have a lot of stop-loss orders clustered around them, so first, let's understand how key price levels can come into play.
Support and resistance are more like zones than precise points down to the decimal, so it's perfectly normal for prices to test them repeatedly.
When a price returns to a level after many days, it often encounters people who bought around that level earlier, either exiting at breakeven or adding to their positions. Trading activity is usually higher as a result.
Indicators can be wrong, but stop-losses are essential: deciding in advance what to do if your assessment is wrong matters more than guessing correctly.
#GTC
Round-number levels often have a lot of stop-loss orders clustered around them, so first, let's understand how key price levels can come into play.
Support and resistance are more like zones than precise points down to the decimal, so it's perfectly normal for prices to test them repeatedly.
When a price returns to a level after many days, it often encounters people who bought around that level earlier, either exiting at breakeven or adding to their positions. Trading activity is usually higher as a result.
Indicators can be wrong, but stop-losses are essential: deciding in advance what to do if your assessment is wrong matters more than guessing correctly.
#GTC