$DOOD has moved above the 0.0023 mark.
Let’s use this data point to talk about psychological price levels.
The more often a price level is tested, the more weight it tends to carry in traders’ minds. But some argue that repeated tests can actually weaken the support there.
It’s not uncommon for prices to break through a level and then fall back below it, so many people wait for the price to hold above it at the close rather than chasing it the moment it breaks through.
Understanding this indicator is about avoiding being spooked by the numbers, not using it to predict whether prices will rise or fall.
#DOOD
Let’s use this data point to talk about psychological price levels.
The more often a price level is tested, the more weight it tends to carry in traders’ minds. But some argue that repeated tests can actually weaken the support there.
It’s not uncommon for prices to break through a level and then fall back below it, so many people wait for the price to hold above it at the close rather than chasing it the moment it breaks through.
Understanding this indicator is about avoiding being spooked by the numbers, not using it to predict whether prices will rise or fall.
#DOOD