🐋 $BTW fell below the 1.7 level. Areas around key levels are often where limit orders and stop-losses are most concentrated.
After a breakdown, stop-losses on long positions below the level can be triggered in a cluster, leading to an accelerated sell-off. But if large buyers step in at lower levels, the price could also rebound above the level.
Which direction do you favor?
After a breakdown, stop-losses on long positions below the level can be triggered in a cluster, leading to an accelerated sell-off. But if large buyers step in at lower levels, the price could also rebound above the level.
Which direction do you favor?