🐋 $IRYS has had 5 consecutive bullish daily candles, gaining a cumulative +525.9% over that period, and is up +39.15% so far today.
Several days in a row moving in the same direction means one side has been consistently in control, but the longer the streak, the more important it is to watch trading volume.
A streak lasting several days can't tell you whether the next candle will close bullish or bearish. Thinking that after so many days, a move in the opposite direction is due is a classic illusion.
Extreme readings usually come with greater volatility. At times like these, it's wiser to reduce your position rather than add to it.
Several days in a row moving in the same direction means one side has been consistently in control, but the longer the streak, the more important it is to watch trading volume.
A streak lasting several days can't tell you whether the next candle will close bullish or bearish. Thinking that after so many days, a move in the opposite direction is due is a classic illusion.
Extreme readings usually come with greater volatility. At times like these, it's wiser to reduce your position rather than add to it.