$LAB 24-hour low, current price 0.04976, previous low 0.05027.
After a new low, three common patterns are:
① Bounces back to the previous low, then drops: weakness continues
② Moves sideways near the previous low: consolidating before the next move
③ Quickly reclaims the previous low and holds above it: a bear trap
For now, it’s still below the previous low. Watch to see whether it follows ① or ②.
I often get it wrong too, so make your own judgment.
After a new low, three common patterns are:
① Bounces back to the previous low, then drops: weakness continues
② Moves sideways near the previous low: consolidating before the next move
③ Quickly reclaims the previous low and holds above it: a bear trap
For now, it’s still below the previous low. Watch to see whether it follows ① or ②.
I often get it wrong too, so make your own judgment.