$JCT After reaching a six-month high, there are usually three possible outcomes:
① It pulls back to 0.00916 but holds, turning the previous high into support; ② It trades sideways near the highs as positions change hands, with volume gradually declining; ③ It falls back below 0.00916, making it a false breakout.
The current price is 0.01082, still above the previous high, so it’s too early to tell which scenario will play out. Trading volume this time was 2.3 times the 20-day average, so whether it stays elevated will be key.
What reasons do you each have for going long or short?
① It pulls back to 0.00916 but holds, turning the previous high into support; ② It trades sideways near the highs as positions change hands, with volume gradually declining; ③ It falls back below 0.00916, making it a false breakout.
The current price is 0.01082, still above the previous high, so it’s too early to tell which scenario will play out. Trading volume this time was 2.3 times the 20-day average, so whether it stays elevated will be key.
What reasons do you each have for going long or short?