But if the market’s winds change, the same analysts might take an opposite tack. “Ah, if bitcoin falls below its support level of $19,500,” they might say, “its price surely will fall much further. Get out while you can!” This is because the analyst assumes that prices have fallen by so much that the market has lost confidence in the coin; if there are no longer enough buyers who consider its price attractive enough to hold, sellers will overpower them. Consequently, the analyst expects the price of the asset to fall.
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October 26, 2022 at 01:32AM
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Crypto Trading 101: How to Use Support and Resistance - CoinDesk
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