$BTW 24-hour high, current price 1.1967, previous high 1.18.
After a new high, it generally takes one of three paths:
① Pull back to the previous high and hold, then make a new high: the healthiest scenario
② Chop around the previous high: consolidation while waiting for direction
③ Quickly fall back below the previous high and fail to reclaim it: a false breakout
For now, it’s still above the previous high. Let’s see whether it follows ① or ②.
After a new high, it generally takes one of three paths:
① Pull back to the previous high and hold, then make a new high: the healthiest scenario
② Chop around the previous high: consolidation while waiting for direction
③ Quickly fall back below the previous high and fail to reclaim it: a false breakout
For now, it’s still above the previous high. Let’s see whether it follows ① or ②.
