$TIA hits a 24-hour high (now fallen back below the previous high), current price 0.5376, previous high 0.5392.
After a new high, there are generally three possible scenarios:
① Pull back to the previous high and hold, then move up another step: the healthiest scenario
② Choppy action around the previous high: consolidation; watch for direction
③ Quickly fall back below the previous high and fail to reclaim it: a bull trap
There are signs of ③ at the moment; the key is whether it gets back above the previous high.
After a new high, there are generally three possible scenarios:
① Pull back to the previous high and hold, then move up another step: the healthiest scenario
② Choppy action around the previous high: consolidation; watch for direction
③ Quickly fall back below the previous high and fail to reclaim it: a bull trap
There are signs of ③ at the moment; the key is whether it gets back above the previous high.
