$IDOL broke above the 60-day high (0.01549) on heavy volume, with turnover at 22.3 times the 20-day average. The current price is 0.01395.
A price breakout accompanied by heavy volume often means buyers are willing to step in at higher levels, while selling pressure from holders trapped near the previous high is being absorbed.
However, the current price has already fallen back below 0.01549, so there is a considerable risk this was a false breakout on heavy volume. Don't treat it as a valid breakout until the price moves back above that level.
#IDOL
A price breakout accompanied by heavy volume often means buyers are willing to step in at higher levels, while selling pressure from holders trapped near the previous high is being absorbed.
However, the current price has already fallen back below 0.01549, so there is a considerable risk this was a false breakout on heavy volume. Don't treat it as a valid breakout until the price moves back above that level.
#IDOL
