$ROSE 7 made a new high today (but has now fallen back below the previous high). Current price: 0.00872; previous high: 0.008725.
After making a new high, there are generally three possible scenarios:
① Pulls back to the previous high, holds above it, then makes another new high: the healthiest pattern
② Moves sideways around the previous high: a period of consolidation to see which way it goes
③ Quickly falls back below the previous high and fails to reclaim it: a false breakout
There are signs of scenario ③ at the moment. The key is whether it can reclaim the previous high.
#ROSE
Just casual discussion; this is not advice.
After making a new high, there are generally three possible scenarios:
① Pulls back to the previous high, holds above it, then makes another new high: the healthiest pattern
② Moves sideways around the previous high: a period of consolidation to see which way it goes
③ Quickly falls back below the previous high and fails to reclaim it: a false breakout
There are signs of scenario ③ at the moment. The key is whether it can reclaim the previous high.
#ROSE
Just casual discussion; this is not advice.