$BICO — Bearish Structure, Waiting for Retest 🩸
Bias: Bearish
Preferred Entry: M15 retracement toward MA8 (0.04835) or VWAP (0.05559)
Trigger: M15 bearish rejection / lower high
Targets: 0.04798 / 0.04514
Invalidation: M15 close above 0.05559 (VWAP)
Why:
H4 structure remains bearish, with price far below VWAP (0.05572) and MA8 (0.05217).
M15 is currently consolidating near the low after a strong drop; a retest of MA8 or VWAP is likely.
A rejection at dynamic resistance would offer a solid short entry.
Confirmation:
Wait for a bearish M15 candle close near MA8/VWAP to confirm the retest.
Not financial advice. DYOR and manage your risk.
Breakdown or bear trap? 👇
#Write2Earn #BICO #TechnicalAnalysis
Bias: Bearish
Preferred Entry: M15 retracement toward MA8 (0.04835) or VWAP (0.05559)
Trigger: M15 bearish rejection / lower high
Targets: 0.04798 / 0.04514
Invalidation: M15 close above 0.05559 (VWAP)
Why:
H4 structure remains bearish, with price far below VWAP (0.05572) and MA8 (0.05217).
M15 is currently consolidating near the low after a strong drop; a retest of MA8 or VWAP is likely.
A rejection at dynamic resistance would offer a solid short entry.
Confirmation:
Wait for a bearish M15 candle close near MA8/VWAP to confirm the retest.
Not financial advice. DYOR and manage your risk.
Breakdown or bear trap? 👇
#Write2Earn #BICO #TechnicalAnalysis