$BTW 24-hour high, current price 1.1545, previous high 1.1382.
After a new high, there are usually three possible moves:
① Pull back to the previous high without breaking below it, then make a new high: strongest
② Move sideways near the previous high: rotation; watch for direction
③ Drop straight back below the previous high and fail to reclaim it: a bull trap
For now, price is above the previous high. First, watch whether it follows ① or ②.
#BTW
After a new high, there are usually three possible moves:
① Pull back to the previous high without breaking below it, then make a new high: strongest
② Move sideways near the previous high: rotation; watch for direction
③ Drop straight back below the previous high and fail to reclaim it: a bull trap
For now, price is above the previous high. First, watch whether it follows ① or ②.
#BTW
