$ATOM 24-hour high, current price 1.437, previous high 1.427.
After a new high, there are generally three possible moves:
① Pull back to the previous high without breaking below it, then move up another step: strongest
② Consolidate around the previous high: churn, watch 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 see whether it follows ① or ②.
#ATOM
After a new high, there are generally three possible moves:
① Pull back to the previous high without breaking below it, then move up another step: strongest
② Consolidate around the previous high: churn, watch 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 see whether it follows ① or ②.
#ATOM
