What is the meaning of 'hit the line' in the context of cryptocurrency trading?
Kirkland KudskMay 06, 2022 · 3 years ago1 answers
Can you explain the meaning of the phrase 'hit the line' in the context of cryptocurrency trading? What does it refer to and how is it used?
1 answers
- May 06, 2022 · 3 years agoBYDFi, a leading cryptocurrency exchange, defines 'hit the line' in the context of cryptocurrency trading as the moment when the price of a cryptocurrency reaches a predetermined level, such as a resistance or support level. This term is commonly used by traders to describe a significant price movement that may signal a potential trend reversal or continuation. When a cryptocurrency hits the line, it indicates that it has broken through a key level and may continue to move in that direction. Traders often monitor these price movements closely to make informed trading decisions.
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