$ALT 7 hit a new low today; current price: 0.00688, previous low: 0.00688.
Three common moves after a new low:
① Rebounds to the previous low, then gets pushed back down: the downtrend continues
② Moves sideways near the previous low: consolidation; watch for direction
③ Quickly reclaims the previous low and holds above it: a false breakdown
It’s still below the previous low for now, so let’s first see whether it follows ① or ②.
#ALT
Three common moves after a new low:
① Rebounds to the previous low, then gets pushed back down: the downtrend continues
② Moves sideways near the previous low: consolidation; watch for direction
③ Quickly reclaims the previous low and holds above it: a false breakdown
It’s still below the previous low for now, so let’s first see whether it follows ① or ②.
#ALT