$CYBER 2 4-hour high, current price 0.321, previous high 0.2732.
After a new high, there are generally three possible moves:
① Pull back to the previous high without breaking below it, then make a new high: the healthiest scenario
② Choppy trading around the previous high: a shift in hands; watch for direction
③ Quickly fall back below the previous high and fail to reclaim it: a bull trap
Currently still above the previous high, so let’s see whether it’s scenario ① or ②.
After a new high, there are generally three possible moves:
① Pull back to the previous high without breaking below it, then make a new high: the healthiest scenario
② Choppy trading around the previous high: a shift in hands; watch for direction
③ Quickly fall back below the previous high and fail to reclaim it: a bull trap
Currently still above the previous high, so let’s see whether it’s scenario ① or ②.