Technical Note | $BEAMX | Breaking Through the 0.005 Level
First, a definition: The longer it has been since this price was last reached, the more the position structure in this area is likely to have changed. The balance of bullish and bearish forces from the past may no longer hold.
How to read it: Breaking through the level only means that one side has the upper hand for now. How much farther the price can go depends on where the next level is and whether trading volume can be sustained.
The same data can mean very different things in different market conditions, so don’t apply a rule mechanically.
#BEAMX
First, a definition: The longer it has been since this price was last reached, the more the position structure in this area is likely to have changed. The balance of bullish and bearish forces from the past may no longer hold.
How to read it: Breaking through the level only means that one side has the upper hand for now. How much farther the price can go depends on where the next level is and whether trading volume can be sustained.
The same data can mean very different things in different market conditions, so don’t apply a rule mechanically.
#BEAMX
