Just saw: $JCT broke below the 0.0115 level.
People often ask what a key price level means. Here’s my take.
The more often a price level is tested, the more significant it usually becomes in traders’ eyes. But some believe repeated tests can instead weaken the buying support there.
The first rebound after a breakdown is often seen as a litmus test: if price gets turned back near the level, the idea that support has turned into resistance is more likely to hold.
Don’t change your usual pace because of a single indicator, and don’t use borrowed money to test a theory.
#JCT
People often ask what a key price level means. Here’s my take.
The more often a price level is tested, the more significant it usually becomes in traders’ eyes. But some believe repeated tests can instead weaken the buying support there.
The first rebound after a breakdown is often seen as a litmus test: if price gets turned back near the level, the idea that support has turned into resistance is more likely to hold.
Don’t change your usual pace because of a single indicator, and don’t use borrowed money to test a theory.
#JCT