A Horizontal Line is commonly used in technical analysis to mark areas of support or resistance. This means that if the price of an asset is moving up and hits a horizontal line, it may find support at that level and continue moving higher. Similarly, if the price is moving down and hits a horizontal line, it may find resistance at that level and start to move back up.The reason why this happens is because when the price reaches a certain level, there are usually more buyers or sellers willing to trade at that price. This creates more pressure on the market and can push the prices in one direction or another. So, if you're looking at a chart with horizontal lines drawn on it, you can use those lines to help predict where the market might turn next.
