🔢 Data: $BTW | Fell below the 1.9 threshold
· Meaning: Previous highs and lows are common key price levels. The memory of having been unable to rise above or fall below a level in the past often influences decisions when the price returns to it.
· How to read it: The first pullback after a breakout is often seen as a test. If the price can stabilize near the threshold, the idea that resistance has turned into support is more convincing.
The same reading can mean very different things in different market conditions, so don’t apply any single rule mechanically.
· Meaning: Previous highs and lows are common key price levels. The memory of having been unable to rise above or fall below a level in the past often influences decisions when the price returns to it.
· How to read it: The first pullback after a breakout is often seen as a test. If the price can stabilize near the threshold, the idea that resistance has turned into support is more convincing.
The same reading can mean very different things in different market conditions, so don’t apply any single rule mechanically.