$XRP Five consecutive bullish days on the daily chart: it rose from around 1.30 to 1.6581 at today’s midday. In five days it’s up 23%. But that midday four-hour candle doesn’t look good: it surged to 1.6581 and was pushed back immediately. The upper shadow is more than twice as long as the body.

Now it’s backed off to 1.597, returning to the midpoint of the morning’s upswing. It’s like the earlier run to the highs—what a waste.

Two ways to read it: the rise is big, and the first decent pullback is just a breather; or this is the first batch of profit-takers at the end of a five-day streak of consecutive up days. The volume does seem to be on the side of a pause—this pullback move hasn’t finished yet, only 48M, which is less than half of the volume on the bar from midday. It doesn’t look like panic selling.

Watch the next two levels closely: 1.585 is the low of this four-hour period. Hold it—if price pulls back, it’s still just taking a breather. If it breaks below, look toward 1.555, then further down to 1.53; the five-day streak of bullish candles will need to be counted again. If it recovers 1.66 to the upside, then treat this upper wick as if it never happened.

Do you think this upper wick is a pause (a breather), or has the top been formed?