$BR has moved above the 0.65 level.
Let’s use this number to talk about psychological price levels.
The longer it’s been since the price last reached this level, the more the distribution of holdings around it is likely to have changed. Past support and resistance may no longer hold.
Many people use key levels as anchors for managing positions: which side of the level they hold on, and where they set their stop-loss, are more practical considerations than trying to guess whether the price will rise or fall.
The point of understanding an indicator is to be less misled by numbers, not to use it to predict price movements.
Let’s use this number to talk about psychological price levels.
The longer it’s been since the price last reached this level, the more the distribution of holdings around it is likely to have changed. Past support and resistance may no longer hold.
Many people use key levels as anchors for managing positions: which side of the level they hold on, and where they set their stop-loss, are more practical considerations than trying to guess whether the price will rise or fall.
The point of understanding an indicator is to be less misled by numbers, not to use it to predict price movements.