$BCH breaks to a new 24-hour high: current price 274.4, previous high 272.57.
After the breakout, two key things to watch:
· Can the previous high of 272.57 turn from resistance into support (hold on a retest)?
· Was there a surge in volume during the breakout? A breakout on declining volume often turns into a bull trap.
What confirmation would you need before taking action?
After the breakout, two key things to watch:
· Can the previous high of 272.57 turn from resistance into support (hold on a retest)?
· Was there a surge in volume during the breakout? A breakout on declining volume often turns into a bull trap.
What confirmation would you need before taking action?