$MAGMA 7-day new low, current price 0.2767, previous low 0.2933.
After making a new low, the price generally moves in one of three ways:
① Bounces back to the previous low, then falls again: the downtrend continues
② Trades sideways near the previous low: changing hands while waiting for direction
③ Quickly reclaims the previous low and holds above it: a bear trap
It is currently below the previous low, so first let’s see whether it follows ① or ②.
#MAGMA
After making a new low, the price generally moves in one of three ways:
① Bounces back to the previous low, then falls again: the downtrend continues
② Trades sideways near the previous low: changing hands while waiting for direction
③ Quickly reclaims the previous low and holds above it: a bear trap
It is currently below the previous low, so first let’s see whether it follows ① or ②.
#MAGMA