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librarianian.bsky.social•2 days ago

300 is the key level. A good break below that will be a hardcore signal that confidence is broken.

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librarianian.bsky.social•2 days ago

This shows for the last 5 years why the $300 level is significant.

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kaha123.bsky.social•2 days ago

It does??

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librarianian.bsky.social•2 days ago

With the exception of the second circle from the left every other time the price tried to get above 300 it was unable to keep going up and instead reversed back down. That is a resistance level. If the price is above that and comes down to 300 and then continues back up that is a support level.

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librarianian.bsky.social•2 days ago

These are pretty established key levels that investors look at which means there is a lot of eyes on it and these people are all follow the crowd investors. If they see it continue below that level it means it will most likely keep going down until it hits another support level. Once they start

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librarianian.bsky.social•2 days ago

bailing the price will continue to drop as more and more people exit their positions. This is the reason it has been steadily hovering in that 300 area. Waiting to see which way it will start heading.

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