$ZEC breaks through the 1300 level, 6 days since the last time it reached here.
When I first got into the trading scene, I couldn't understand why everyone watched round-number levels. Later, I realized: the levels themselves aren't magical; it's just that everyone watches them and places stop-losses nearby, so the price tends to react more strongly when it gets there.
Breaking through a level only shows that one side has the upper hand for now. Whether the move can continue depends on where the next key level is and whether capital keeps flowing in.
With leveraged positions, first think about whether you can withstand the worst-case outcome, then consider what the signals are saying.
When I first got into the trading scene, I couldn't understand why everyone watched round-number levels. Later, I realized: the levels themselves aren't magical; it's just that everyone watches them and places stop-losses nearby, so the price tends to react more strongly when it gets there.
Breaking through a level only shows that one side has the upper hand for now. Whether the move can continue depends on where the next key level is and whether capital keeps flowing in.
With leveraged positions, first think about whether you can withstand the worst-case outcome, then consider what the signals are saying.