$LA 30 hit a new daily low. Current price: 0.0558; previous low: 0.05627.
After hitting a new low, prices generally move in one of three ways:
① Bounce back to the previous low, then fall again: the downtrend continues
② Churn around the previous low: turnover, waiting for direction
③ Quickly reclaim and hold above the previous low: a false breakdown
For now, it’s still below the previous low, so let’s see whether it follows ① or ②.
#LA
After hitting a new low, prices generally move in one of three ways:
① Bounce back to the previous low, then fall again: the downtrend continues
② Churn around the previous low: turnover, waiting for direction
③ Quickly reclaim and hold above the previous low: a false breakdown
For now, it’s still below the previous low, so let’s see whether it follows ① or ②.
#LA