$ONE -hour new low (now rebounded back above the previous low), current price 0.001585, previous low 0.001576.
After a new low, there are commonly three scenarios:
① Rebounds to the previous low and then falls again: weakness continues
② Moves sideways near the previous low: consolidation, waiting for direction
③ Quickly recovers above the previous low and holds: false breakdown
There are signs of ③ now; the question is whether it can hold.
After a new low, there are commonly three scenarios:
① Rebounds to the previous low and then falls again: weakness continues
② Moves sideways near the previous low: consolidation, waiting for direction
③ Quickly recovers above the previous low and holds: false breakdown
There are signs of ③ now; the question is whether it can hold.