Market update, light version: $ICNT has fallen below the 0.16 level.
A round-number level is just a number to the market, but to us, it’s a big deal.
On a more serious note, previous highs and lows are among the most commonly watched key price levels. The memory of prices being unable to rise above or fall below those levels often influences buying and selling when they reach them again.
Extreme readings often signal larger price swings. At times like these, it’s even more important to reduce leverage rather than increase it.
#ICNT
Personal notes only; not specific buying or selling advice.
A round-number level is just a number to the market, but to us, it’s a big deal.
On a more serious note, previous highs and lows are among the most commonly watched key price levels. The memory of prices being unable to rise above or fall below those levels often influences buying and selling when they reach them again.
Extreme readings often signal larger price swings. At times like these, it’s even more important to reduce leverage rather than increase it.
#ICNT
Personal notes only; not specific buying or selling advice.