$IO 24-hour new high, current price 0.1672, previous high 0.1653.
After a new high, there are generally three possible moves:
① Pull back to the previous high without breaking it, then move up another level: the healthiest
② Consolidate sideways near the previous high: digesting, waiting for direction
③ Directly fall back below the previous high and fail to reclaim it: false breakout
We are currently above the previous high, so first see whether this is ① or ②.
After a new high, there are generally three possible moves:
① Pull back to the previous high without breaking it, then move up another level: the healthiest
② Consolidate sideways near the previous high: digesting, waiting for direction
③ Directly fall back below the previous high and fail to reclaim it: false breakout
We are currently above the previous high, so first see whether this is ① or ②.