After breaking above the previous high, it didn’t even pull back sharply. Volume continued to expand noticeably as $XMR broke out of its range.
Many people see a new high and immediately worry about a “false breakout,” but the market’s response has been decisive: there was no concentrated selling pressure overhead like many expected. The price wasn’t knocked back into the range; instead, each subsequent pullback made a higher low.
If this really were a bull trap, liquidity at the highs would already be providing cover for a sell-off. With a volume-backed breakout, price holding near the highs, and pullback lows continuing to climb, the bulls have built a solid line of defense. Don’t rush to call a top based on short-term thinking.
#XMR
👇
Many people see a new high and immediately worry about a “false breakout,” but the market’s response has been decisive: there was no concentrated selling pressure overhead like many expected. The price wasn’t knocked back into the range; instead, each subsequent pullback made a higher low.
If this really were a bull trap, liquidity at the highs would already be providing cover for a sell-off. With a volume-backed breakout, price holding near the highs, and pullback lows continuing to climb, the bulls have built a solid line of defense. Don’t rush to call a top based on short-term thinking.
#XMR
👇