Don’t mistake a support level for a lifeline! The market won’t guarantee it holds just because you believe in it.
A level gets tested five or six times, and each time the price drops there, significant buying appears.
At the very least, that shows someone was once willing to buy at that price.
But what you really need to watch out for is:
How much buying power is left? How many more times can it hold?
Support has never been a line that works forever. It’s a level that needs to be tested again and again.
What do you think, everyone?
When a level gets tested five or six times, is the support getting stronger, or is buying pressure gradually being depleted?
I’d really like to hear your take. 👇
#Crypto
$BTC
A level gets tested five or six times, and each time the price drops there, significant buying appears.
At the very least, that shows someone was once willing to buy at that price.
But what you really need to watch out for is:
How much buying power is left? How many more times can it hold?
Support has never been a line that works forever. It’s a level that needs to be tested again and again.
What do you think, everyone?
When a level gets tested five or six times, is the support getting stronger, or is buying pressure gradually being depleted?
I’d really like to hear your take. 👇
#Crypto
$BTC