$BEAT 24-hour high, current price 0.06965, previous high 0.06926.
After a new high, there are generally three possible moves:
① Pull back to the previous high without breaking below it, then move up another step: strongest
② Churn around the previous high: consolidation, waiting for direction
③ Quickly fall back below the previous high and fail to reclaim it: a bull trap
For now, the price is above the previous high. Watch to see whether it follows ① or ②.
After a new high, there are generally three possible moves:
① Pull back to the previous high without breaking below it, then move up another step: strongest
② Churn around the previous high: consolidation, waiting for direction
③ Quickly fall back below the previous high and fail to reclaim it: a bull trap
For now, the price is above the previous high. Watch to see whether it follows ① or ②.