Technical Note｜$DOT ｜Failed to hold the 1.1 level
Definition: Integer price levels are considered important because traders like to place limit orders and take-profit orders around them. Orders often cluster at these levels, which is why they are also called psychological levels.
A note on how to read them: Breaking through a level only means that one side has the upper hand at that moment. Whether the move can continue depends on where the next level is and whether capital flows can keep up.
With leveraged positions, first work out whether you can withstand the worst-case outcome, then consider what the indicators are saying.
#DOT
Definition: Integer price levels are considered important because traders like to place limit orders and take-profit orders around them. Orders often cluster at these levels, which is why they are also called psychological levels.
A note on how to read them: Breaking through a level only means that one side has the upper hand at that moment. Whether the move can continue depends on where the next level is and whether capital flows can keep up.
With leveraged positions, first work out whether you can withstand the worst-case outcome, then consider what the indicators are saying.
#DOT