A quick interjection from the jokester: $LINK has broken through the 12 mark.
To prices, round-number thresholds are just ordinary numbers; to us, they’re psychological barriers.
Seriously though, the usual rule of thumb is: a resistance level that’s decisively broken often turns into support, while a support level that’s decisively broken often turns into resistance.
The same reading can mean very different things in different market conditions, so don’t blindly apply any one rule of thumb.
#LINK
To prices, round-number thresholds are just ordinary numbers; to us, they’re psychological barriers.
Seriously though, the usual rule of thumb is: a resistance level that’s decisively broken often turns into support, while a support level that’s decisively broken often turns into resistance.
The same reading can mean very different things in different market conditions, so don’t blindly apply any one rule of thumb.
#LINK