$ORCA 24-hour high, current price 1.976, previous high 1.935.
After a new high, three common patterns are:
① Pull back to the previous high, hold, then move up another step: the healthiest pattern
② Consolidate near the previous high: turnover as the market waits for direction
③ Drop straight below the previous high and fail to reclaim it: a bull trap
It’s still above the previous high for now. Let’s see whether it follows pattern ① or ②.
I’m just sharing my thoughts; this is not investment advice.
After a new high, three common patterns are:
① Pull back to the previous high, hold, then move up another step: the healthiest pattern
② Consolidate near the previous high: turnover as the market waits for direction
③ Drop straight below the previous high and fail to reclaim it: a bull trap
It’s still above the previous high for now. Let’s see whether it follows pattern ① or ②.
I’m just sharing my thoughts; this is not investment advice.