$VVV 24-hour high, current price 25.473, previous high 24.95.
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 scenario
② Churn around the previous high: a changing of hands; watch for direction
③ Quickly fall below the previous high and fail to reclaim it: a false breakout
For now, price is still above the previous high. Watch whether it follows scenario ① or ②.
#VVV
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 scenario
② Churn around the previous high: a changing of hands; watch for direction
③ Quickly fall below the previous high and fail to reclaim it: a false breakout
For now, price is still above the previous high. Watch whether it follows scenario ① or ②.
#VVV