common-close-0
BYDFi
Trade wherever you are!

What is the meaning of 'hit the line' in the context of cryptocurrency trading?

avatarrupeshDec 17, 2021 · 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?

What is the meaning of 'hit the line' in the context of cryptocurrency trading?
Cryptocurrency
Trading
Hit The Line

1 answers

  • avatarDec 17, 2021 · 3 years ago
    BYDFi, 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.

Related questions

common-arrow-bottom-0Load 5 more related questions
common-search-0

Related Tags

Hot Questions