$G 24-hour low, current price 0.0033, previous low 0.003332.
After a new low, there are generally three possible moves:
① A rebound reaches the previous low and gets pushed back down: weakness continues
② Price moves back and forth near the previous low: consolidation while waiting for direction
③ Price quickly reclaims the previous low and holds above it: a bear trap
Currently below the previous low, so first watch whether it follows ① or ②.
After a new low, there are generally three possible moves:
① A rebound reaches the previous low and gets pushed back down: weakness continues
② Price moves back and forth near the previous low: consolidation while waiting for direction
③ Price quickly reclaims the previous low and holds above it: a bear trap
Currently below the previous low, so first watch whether it follows ① or ②.
