Topic: Target Prices and Resistance Levels? - page 2. (Read 246 times)

this might help more to explain walls


and yes targets are usually individual/personal to each person. or some bet someone has. we are no where near 2025 to be talking about a All Time High

you usually see people talk about 2x - 3x as their target if they are mid-long term investing
some just want to take a 1.5-2% profit target if they are day trading

Frankly, your explanation gave me a new narrative about the walls from the diagram you put up there, I never really understood it that way even though I understand the concept from the chart more than the diagram.


I believe "Target price" is the level at which one wants the price to rally to, either a support or resistance or a possible "take profit" line. It has got nothing to do with the entire market as parameters for "target prices" vary.


Resistance levels are just levels where the price of an assets bounces off and reverses downwards, its  not a complicated situation, however, it is pertinent to note that a resistance level can be someone's "target price".

first of all.. "resistance" is the wall that slows down or stops trades from going UP
             .. "support" is the wall that slows down or stops trades from going DOWN

there are many many statistics people can gather that form these measures
ill give you a couple simplified ones for novices

a. if you look at the market-order-book of exchange you can see the depth of all the orders.


you can see the differences of the depths.. if its a cliff.. its a wall if its flat its open to move

be cautious.. many times these walls are "ghosts".. traders can set many orders to create a wall of resistance/support, but if the price gets close to their order they cancel all the orders and the walls fall flatter. this is when viewers then get shocked that the price easily passed a wall and they act surprised how easy the wall fell


b. futures market have people locking in contracts that complete at certain prices. if the prices hit and contracts complete this can change the markets
we see this alot where there are many contracts to bet that prices wont breach over $39k so you see lots of whales do spot trading to sell and arbitrage and sell to keep the price below $39k to resist a price pump until their contracts expire. and then suddenly the spot order book changes with no sell resistance wall

there are many other measures that people can find.
and if you are following people that just only draw a line on a candlestick chart. and only talk about historic trend repeating, unsubscribe from them

Why are target prices and especially resistance level terms that people use so much?  What is the point of saying target price unless you are going to buy or sell btc at that price?  Or is that what people mean by the target price?


When you have people talk about overcoming the resistance level of 22k and things like that.  Then talk about how there will be a barrier at 24k.  Are people just randomly spewing stupid numbers out there?  First off, are people just randomly pulling numbers out whether it's 22k or 33k?  And why those numbers?  It gets even more foolish when there is talk about resistance level at 32700 when say btc price is 31200.  Is there a big difference between saying the resistance level at 32700 or 32900?  Why not just say 33k? Then again why not say 35k?  So if it passes the resistance level of 33k, then there is no talk about it anymore?  Well it eventually will go back down to 25k and then there will be talk and gossip about will it hit the target or resistance level of 27k.  Does anyone here find this just stupid or pure garbage?  I mean btc has hit 27k and 33k many times and went back down and went back up.  To me, unless you are talking about the all time high or close to it, what's the point of all this nonsense?  Now the same can be said about altcoins but this talk always seem to be about btc and eth and the top coins.


 
When there is talk about these target prices or resistance levels in the news or threads about it here... it seems stupid.  Like when btc went above 20k and then went really fast above it to 22k.  People say wow it went over that 20k level so fast.  The same when it went to 30k and then 33k.  But it then went down all the way to 15k etc.  Is this just all gossip or pure garbage discussion?  Or is there something I'm missing here?  I have no issue when people ask will btc hit 50k again or the all time high or higher.  But when they say anyone here think it will have issues at the resistance level at 27k, then there are lot of replies about it... it just seems foolish.  I mean is there really a difference between going past 27k compared to 28k?  This talk makes it sound like it's a video game like when you played as a kid saying oh this level x boss is very tough so level 27 boss is tough but the 28k boss is much easier.  Yet these are just numbers and people making it seem like certain numbers are tougher to reach?  Then it reaches it again many times and goes back down many times and you hear this discussion yet again.  Now if I'm wrong here, can someone explain to me what I am wrong here about?  Unless you are trading actively, all this is basically just useless noise right?