A new $PENDLE 24-hour high; current price: 2.207, previous high: 2.1919.
After a new high, there are three common patterns:
① Pull back to the previous high, hold, then move up another step: the healthiest pattern
② Churn around the previous high: a change of hands while waiting for direction
③ Fall straight back below the previous high and fail to reclaim it: a bull trap
For now, price is still above the previous high. Let's see whether pattern ① or ② unfolds.
#PENDLE
This is for discussion only. Trade at your own risk.
After a new high, there are three common patterns:
① Pull back to the previous high, hold, then move up another step: the healthiest pattern
② Churn around the previous high: a change of hands while waiting for direction
③ Fall straight back below the previous high and fail to reclaim it: a bull trap
For now, price is still above the previous high. Let's see whether pattern ① or ② unfolds.
#PENDLE
This is for discussion only. Trade at your own risk.