$JCT 30 New High, current price 0.002541, previous high 0.002176.
After making a new high, there are usually three common patterns:
① Pull back to the previous high without breaking it, then make a new high again: strongest
② Whipsaw/oscillate repeatedly around the previous high: new hands, watch the direction
③ Drop directly back below the previous high and fail to regain it: false breakout
We are currently above the previous high—first, look at whether it’s pattern ① or ②.
#JCT
DYOR, trade rationally.
After making a new high, there are usually three common patterns:
① Pull back to the previous high without breaking it, then make a new high again: strongest
② Whipsaw/oscillate repeatedly around the previous high: new hands, watch the direction
③ Drop directly back below the previous high and fail to regain it: false breakout
We are currently above the previous high—first, look at whether it’s pattern ① or ②.
#JCT
DYOR, trade rationally.