$RONIN hit a 24-hour high; current price: 0.0735, previous high: 0.07318.
After reaching a new high, there are three common patterns:
① Pull back to the previous high, hold, then move up another step: strongest
② Chop around the previous high: turnover, direction still unclear
③ Fall straight back below the previous high and fail to reclaim it: bull trap
For now, price is above the previous high. First, watch whether it follows pattern ① or ②.
After reaching a new high, there are three common patterns:
① Pull back to the previous high, hold, then move up another step: strongest
② Chop around the previous high: turnover, direction still unclear
③ Fall straight back below the previous high and fail to reclaim it: bull trap
For now, price is above the previous high. First, watch whether it follows pattern ① or ②.