New low at $PTB 30; current price: 0.0003882, previous low: 0.0004228.
After a new low, three common scenarios:
① Bounces back to the previous low, then falls again: the downtrend continues
② Moves sideways near the previous low: consolidation while waiting for direction
③ Quickly reclaims and holds above the previous low: a false breakdown
It’s currently below the previous low. Watch to see whether scenario ① or ② plays out.
I get it wrong often too, so don’t take this as advice.
After a new low, three common scenarios:
① Bounces back to the previous low, then falls again: the downtrend continues
② Moves sideways near the previous low: consolidation while waiting for direction
③ Quickly reclaims and holds above the previous low: a false breakdown
It’s currently below the previous low. Watch to see whether scenario ① or ② plays out.
I get it wrong often too, so don’t take this as advice.