$BTC has moved above the 82,000 mark.
Guys, where do key price levels come from? Here’s the short version 👇
The longer it’s been since the price last reached this level, the more the distribution of holdings around here may have changed. The balance of bullish and bearish forces from back then may no longer apply.
When the price returns to a level after a long time, people who bought around that level before may sell to break even or add to their positions, so trading often becomes more active.
It’s safer to look for confirmation across several data points than to rely on just one, but even multiple signals can’t provide a definitive conclusion.
#BTC
Guys, where do key price levels come from? Here’s the short version 👇
The longer it’s been since the price last reached this level, the more the distribution of holdings around here may have changed. The balance of bullish and bearish forces from back then may no longer apply.
When the price returns to a level after a long time, people who bought around that level before may sell to break even or add to their positions, so trading often becomes more active.
It’s safer to look for confirmation across several data points than to rely on just one, but even multiple signals can’t provide a definitive conclusion.
#BTC