In a bullish market, altcoins often hit New Local High, which can be followed by massive gains. Strength is followed by more strength. It’s like when a damn breaks…first it’s a trickle, then a massive force of water pouring out.

ENS (Ethereum Naming Service) is a recent example (see chart below). Price broke above the prior 50 day high price (resistance), pulled back briefly, then re-broke and went vertical for +50% gain! Break, pullback, re-break. This strategy has worked like charm in the current bull market.

ENS (Ethereum Naming Service) New Local High

New Local High indicator helps traders identify when a coin reaches a new peak over a specified period. Shorter periods (10, 15) are used for detecting early momentum, while longer periods (30, 50) confirm significant trends. The best part – it only takes a couple of clicks to use this powerful indicator to your advantage.

Use altFINS Crypto Screener to quickly find such trading opportunities!

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Trading Rules of Trading New Local High

Initial Breakout Entry

• Condition: Buy when price breaks above a recent high.
• Action: Enter 50% of position size.

Pullback and Re-break Entry

• Condition: If a pullback occurs and price re-breaks the initial level.
• Action: Add the remaining 50% and place a stop-loss to the pullback low.

Tip: Set alerts for breakouts and pullbacks to act quickly.

Summary: Using a new local high in crypto trading helps identify potential breakout points, signaling upward momentum and opportunities for profitable entry or trend confirmation.

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Learn more about New Local High and New Local Low in the knowledgebase articles.