Latest data: $Bull Is Coming | lost the 0.06 level
What it is: The longer it has been since the price last reached this level, the more the distribution of holdings around this area may have changed. The balance of bullish and bearish forces in the past may no longer hold.
Common interpretation: The first rebound after a break below is often seen as a litmus test: if the price is rejected below the level, the claim that support has turned into resistance becomes more credible.
Understanding an indicator is about being less misled by a single number, not using it to predict tops and bottoms.
Use it as a reference, but don't put too much faith in it.
What it is: The longer it has been since the price last reached this level, the more the distribution of holdings around this area may have changed. The balance of bullish and bearish forces in the past may no longer hold.
Common interpretation: The first rebound after a break below is often seen as a litmus test: if the price is rejected below the level, the claim that support has turned into resistance becomes more credible.
Understanding an indicator is about being less misled by a single number, not using it to predict tops and bottoms.
Use it as a reference, but don't put too much faith in it.
