$PONS 24-hour high, current price 0.3617, previous high 0.3587.
After a new high, there are generally three possible moves:
① Pull back to the previous high, hold above it, then make a new high: the healthiest pattern
② Move sideways near the previous high: consolidation and a wait for direction
③ Quickly fall back below the previous high and fail to recover: a false breakout
For now, the price is above the previous high. Let's see whether it follows ① or ②.
#PONS
For reference only. Make your own independent trading decisions.
After a new high, there are generally three possible moves:
① Pull back to the previous high, hold above it, then make a new high: the healthiest pattern
② Move sideways near the previous high: consolidation and a wait for direction
③ Quickly fall back below the previous high and fail to recover: a false breakout
For now, the price is above the previous high. Let's see whether it follows ① or ②.
#PONS
For reference only. Make your own independent trading decisions.