$ZK 30 hits a new daily high; current price: 0.01676, previous high: 0.01664.
After reaching a new high, price action commonly follows one of three patterns:
① Pulls back to the previous high and holds, then moves up another step: the healthiest pattern
② Consolidates near the previous high: digesting the move and deciding on a direction
③ Quickly falls below the previous high and fails to recover: a bull trap
It’s currently above the previous high, so let’s see whether it follows ① or ②.
#ZK
After reaching a new high, price action commonly follows one of three patterns:
① Pulls back to the previous high and holds, then moves up another step: the healthiest pattern
② Consolidates near the previous high: digesting the move and deciding on a direction
③ Quickly falls below the previous high and fails to recover: a bull trap
It’s currently above the previous high, so let’s see whether it follows ① or ②.
#ZK