$SOON 24-hour high, current price 0.2696, previous high 0.2675.
After making a new high, there are generally three possible moves:
① Pull back to the previous high without breaking below it, then make a new high: strongest
② Churn repeatedly around the previous high: turnover, waiting for direction
③ Drop straight back below the previous high and fail to reclaim it: bull trap
For now, price is above the previous high. First, let’s see whether it’s scenario ① or ②.
#SOON
After making a new high, there are generally three possible moves:
① Pull back to the previous high without breaking below it, then make a new high: strongest
② Churn repeatedly around the previous high: turnover, waiting for direction
③ Drop straight back below the previous high and fail to reclaim it: bull trap
For now, price is above the previous high. First, let’s see whether it’s scenario ① or ②.
#SOON