$RAYSOL 24-hour high, current price 1.5945, previous high 1.5653.
After a new high, there are three common scenarios:
① Pull back to the previous high, hold, then move up another step: the healthiest scenario
② Consolidate near the previous high: turnover as the market waits for direction
③ Fall straight back below the previous high and fail to reclaim it: a bull trap
Price is still above the previous high for now. Watch to see whether scenario ① or ② plays out.
After a new high, there are three common scenarios:
① Pull back to the previous high, hold, then move up another step: the healthiest scenario
② Consolidate near the previous high: turnover as the market waits for direction
③ Fall straight back below the previous high and fail to reclaim it: a bull trap
Price is still above the previous high for now. Watch to see whether scenario ① or ② plays out.