$MASK The 15-minute candle just surged 5.09%—a sudden acceleration. Chase it or wait?
The 15-minute candle that just closed rose 5.09%, with a trading volume of 1.912 million USDT—4.50 times that of the previous period of the same length.
After breaking above the previous range on increased volume, the latest quote remains above the last full candle’s close and near the day’s high, with the rally still extending. There’s evidence to support a short-term bullish view, but the price has moved well away from its moving averages, and momentum is nearing an extreme, so the pace of the move may not be sustainable.
Confidence in the breakout will increase only if a subsequent candle closes fully above the original range. If the price falls back into the range, the current bullish outlook should be taken with a grain of salt. A new high in the quote is no substitute for confirmation at the close.
Watchlist: range low 0.4231; range high 0.4518; closes and volume changes beyond the boundaries.
#MarketWatch
Disclosure: This article participates in Plaza’s content mining program and may earn trading commissions and engagement rewards.
The 15-minute candle that just closed rose 5.09%, with a trading volume of 1.912 million USDT—4.50 times that of the previous period of the same length.
After breaking above the previous range on increased volume, the latest quote remains above the last full candle’s close and near the day’s high, with the rally still extending. There’s evidence to support a short-term bullish view, but the price has moved well away from its moving averages, and momentum is nearing an extreme, so the pace of the move may not be sustainable.
Confidence in the breakout will increase only if a subsequent candle closes fully above the original range. If the price falls back into the range, the current bullish outlook should be taken with a grain of salt. A new high in the quote is no substitute for confirmation at the close.
Watchlist: range low 0.4231; range high 0.4518; closes and volume changes beyond the boundaries.
#MarketWatch
Disclosure: This article participates in Plaza’s content mining program and may earn trading commissions and engagement rewards.