$BTW 24-hour low (now rebounded above the previous low), current price 1.5853, previous low 1.5696.
After a new low, there are generally three possible scenarios:
① Rebounds to the previous low, then gets pushed back down: the decline continues
② Choppy action around the previous low: positions change hands as the market waits for direction
③ Quickly reclaims the previous low and holds above it: a bear trap
There are signs of ③ at the moment; the question is whether it can hold.
After a new low, there are generally three possible scenarios:
① Rebounds to the previous low, then gets pushed back down: the decline continues
② Choppy action around the previous low: positions change hands as the market waits for direction
③ Quickly reclaims the previous low and holds above it: a bear trap
There are signs of ③ at the moment; the question is whether it can hold.
