The candlestick chart is cracking jokes again: $BEAMX has fallen below the 0.004 level, just 4 days after it last reached this point.
To a candlestick chart, a level is just a number; to people, it can be a psychological line of defense.
A bit of serious education: the more often a price level is tested, the more weight it tends to carry in people’s minds. However, some believe repeated tests can actually wear down the support there.
Multiple indicators confirming one another are more reliable than looking at just one, but even more signals can’t provide a definitive answer.
To a candlestick chart, a level is just a number; to people, it can be a psychological line of defense.
A bit of serious education: the more often a price level is tested, the more weight it tends to carry in people’s minds. However, some believe repeated tests can actually wear down the support there.
Multiple indicators confirming one another are more reliable than looking at just one, but even more signals can’t provide a definitive answer.