Indicator Notes｜$HYPE ｜Cleared the 85 level
First, the definition: One rule of thumb is that a resistance level that is decisively broken often turns into support, while a support level that is decisively broken often turns into resistance.
Next, how to read it: The first pullback after breaking above a level is often seen as a litmus test. If the price can stabilize above the level, the idea that resistance has turned into support is more convincing.
Understanding indicators is easy; the hard part is sticking to the rules when emotions are running highest.
#HYPE
First, the definition: One rule of thumb is that a resistance level that is decisively broken often turns into support, while a support level that is decisively broken often turns into resistance.
Next, how to read it: The first pullback after breaking above a level is often seen as a litmus test. If the price can stabilize above the level, the idea that resistance has turned into support is more convincing.
Understanding indicators is easy; the hard part is sticking to the rules when emotions are running highest.
#HYPE