A true story: $ONE broke through the 0.0016 mark.
To prices, round-number levels are just numbers; to us, they can be psychological barriers.
A quick bit of educational context: previous highs and lows are among the most commonly used reference points. The experience of being turned back or finding that a price wouldn’t fall further at a certain level often influences decisions when the price reaches that level again.
It’s safer to look for confirmation from multiple data points than to rely on just one, but no number of indicators can provide a definite answer.
To prices, round-number levels are just numbers; to us, they can be psychological barriers.
A quick bit of educational context: previous highs and lows are among the most commonly used reference points. The experience of being turned back or finding that a price wouldn’t fall further at a certain level often influences decisions when the price reaches that level again.
It’s safer to look for confirmation from multiple data points than to rely on just one, but no number of indicators can provide a definite answer.