A new low in $ICNT 24 hours; current price is 0.1628, previous low was 0.163.
After a new low, price typically moves in one of three ways:
① It rebounds to the previous low and gets pushed back down: weakness continues
② It moves sideways near the previous low: consolidation while waiting for direction
③ It quickly reclaims the previous low and holds above it: a bear trap
It's currently below the previous low; watch to see whether it follows ① or ②.
After a new low, price typically moves in one of three ways:
① It rebounds to the previous low and gets pushed back down: weakness continues
② It moves sideways near the previous low: consolidation while waiting for direction
③ It quickly reclaims the previous low and holds above it: a bear trap
It's currently below the previous low; watch to see whether it follows ① or ②.