$CAP 24-hour high, current price 0.07981, previous high 0.07936.
After making a new high, it usually follows one of three paths:
① Pulls back to the previous high, holds, then moves up another level: the healthiest scenario
② Chops around the previous high: rotation, waiting for direction
③ Falls straight back below the previous high and fails to reclaim it: a bull trap
It is currently above the previous high; watch to see whether it follows ① or ②.
Just my personal perspective; I may be wrong. Please assess rationally.
After making a new high, it usually follows one of three paths:
① Pulls back to the previous high, holds, then moves up another level: the healthiest scenario
② Chops around the previous high: rotation, waiting for direction
③ Falls straight back below the previous high and fails to reclaim it: a bull trap
It is currently above the previous high; watch to see whether it follows ① or ②.
Just my personal perspective; I may be wrong. Please assess rationally.
