What if the support level fails to hold?

Since there is a lot of demand at this level the price will go up as soon as it touches the level. This is because the participants in the market will rush to buy the stock. This is the reason why the support level works in the market .This makes it clear that the support level is not just a hypothetical level but there is a reason behind it getting formed.
What if the support level fails to hold? This could be because the participants in the market are not convinced that this level is good enough to work out. It could happen that the price falls from the level of support. The price should have stopped falling and should have reversed but traders do not see this happening at this support level. So what do traders do now? How do their reaction change?

Those who were bullish on the stock and were holding long positions now are unhappy with their decision and think that they have made a mistake. When the price starts to fall lower then the buyers in the market have accepted their loss and they sell their position to close the trade. This is a big loss for many and so some of them would wait for the price to retest the support level that got broken and then sell the stock. This way they end up making lesser losses.
Those who were short on the stock are happy and they are tempted to take bigger positions now. They are thus waiting that the price goes back to the support level and they would short again and increase their position.
Those who were undecided on Bitcoin Trader about which way to trade, notice that the short positions have worked out. They are thus waiting for the price to retest the broken support level and they will enter the trade soon.
So now since the support level got broken it has turned into a resistance level. Traders are waiting for the price to test that level again and they all want to be sellers at that level. Thus you see how support becomes resistance and this is not something that happens automatically. This is because of te human psychology that goes into making the market move.
The formation of the support and resistance level involves human behavior. Technical analysis reads this human behavior to enter the trades.