🐋 $XMR breaks through the 600 mark.
A lot of orders tend to pile up near key levels, so let’s first talk about why these price levels matter.
The longer it’s been since price last reached this level, the more the market positioning around it is likely to have changed. The balance of bulls and bears from back then may no longer hold.
Volatility often picks up near key levels. Leveraged positions need more room here, as stop-losses set too close to round numbers can easily get swept.
Indicators can fail, but stop-losses shouldn’t be skipped: thinking in advance about what to do if you’re wrong matters more than getting the prediction right.
#XMR
A lot of orders tend to pile up near key levels, so let’s first talk about why these price levels matter.
The longer it’s been since price last reached this level, the more the market positioning around it is likely to have changed. The balance of bulls and bears from back then may no longer hold.
Volatility often picks up near key levels. Leveraged positions need more room here, as stop-losses set too close to round numbers can easily get swept.
Indicators can fail, but stop-losses shouldn’t be skipped: thinking in advance about what to do if you’re wrong matters more than getting the prediction right.
#XMR