$SIREN The daily chart has broken above the upper Bollinger Band (0.0277). A couple of thoughts from the perspective of leveraged traders:
When the bands narrow, prices tend to trade in a tight range, and both bulls and bears usually place their stop-losses at the edges of that range. When the price breaks above the upper band, stop-losses on short positions can get triggered, helping fuel a rally. But once those stops have been cleared, the price may also pull back if no fresh buyers step in.
Current price: 0.0364. Leave your thoughts in the comments, and we can review it together later.
#SIREN
When the bands narrow, prices tend to trade in a tight range, and both bulls and bears usually place their stop-losses at the edges of that range. When the price breaks above the upper band, stop-losses on short positions can get triggered, helping fuel a rally. But once those stops have been cleared, the price may also pull back if no fresh buyers step in.
Current price: 0.0364. Leave your thoughts in the comments, and we can review it together later.
#SIREN