$XMR 24-hour high, current price 605.06, previous high 602.92.
There are three common patterns after a new high:
① Pull back to the previous high without breaking below it, then move up another level: the healthiest pattern
② Churn around the previous high: rotation, waiting for direction
③ Quickly fall back below the previous high and fail to reclaim it: a bull trap
For now, price is above the previous high. Watch to see whether it follows pattern ① or ②.
#XMR
There are three common patterns after a new high:
① Pull back to the previous high without breaking below it, then move up another level: the healthiest pattern
② Churn around the previous high: rotation, waiting for direction
③ Quickly fall back below the previous high and fail to reclaim it: a bull trap
For now, price is above the previous high. Watch to see whether it follows pattern ① or ②.
#XMR
