$SIREN The daily chart has broken above the upper Bollinger Band, with the current price at 0.02965 and bandwidth at 6.2% during the squeeze.
After breaking out of the band, three scenarios are common:
A. Price continues moving upward along the upper band—a common pattern in a strong market. Riding the upper band doesn't mean a pullback is imminent;
B. Price quickly retreats back inside the band after the breakout—a false breakout, which often happens when trading volume is insufficient;
C. Price pulls back to the middle band at 0.0233, finds support, and then continues upward—a relatively healthy pace.
Which signal would you trust?
#SIREN
After breaking out of the band, three scenarios are common:
A. Price continues moving upward along the upper band—a common pattern in a strong market. Riding the upper band doesn't mean a pullback is imminent;
B. Price quickly retreats back inside the band after the breakout—a false breakout, which often happens when trading volume is insufficient;
C. Price pulls back to the middle band at 0.0233, finds support, and then continues upward—a relatively healthy pace.
Which signal would you trust?
#SIREN