$CT 24-hour low, current price 0.2926, previous low 0.2952.
After a new low, the price usually moves in one of three ways:
① It rebounds to test the previous low, then falls again: the downtrend continues
② It moves sideways near the previous low: consolidation while waiting for direction
③ It quickly recovers the previous low and holds above it: a bear trap
For now, it’s still below the previous low, so let’s see whether it follows ① or ②.
After a new low, the price usually moves in one of three ways:
① It rebounds to test the previous low, then falls again: the downtrend continues
② It moves sideways near the previous low: consolidation while waiting for direction
③ It quickly recovers the previous low and holds above it: a bear trap
For now, it’s still below the previous low, so let’s see whether it follows ① or ②.