New $S 24-hour low, current price 0.05342, previous low 0.05352.
After a new low, there are three common scenarios:
① Rebounds to the previous low, then gets pushed back down: weakness continues
② Trades sideways near the previous low: turnover; watch for direction
③ Quickly recovers the previous low and holds above it: bear trap
It’s still below the previous low for now, so let’s first see whether scenario ① or ② plays out.
#S
After a new low, there are three common scenarios:
① Rebounds to the previous low, then gets pushed back down: weakness continues
② Trades sideways near the previous low: turnover; watch for direction
③ Quickly recovers the previous low and holds above it: bear trap
It’s still below the previous low for now, so let’s first see whether scenario ① or ② plays out.
#S