BICO is down 46.16% in 24 hours and is trading at 1.5% of its own daily range. Not a dip. A repricing.
$52.9m of quote volume went through in that window and almost all of it went one way. The 1h candles are now printing at 0.78x their 20-period average, so the sellers who did the damage have already finished. What is left is a thin book at the bottom.
0.03819 is where $BICO is decided — 17 measured touches on the 1h, 16 on the 15m. Price is 0.03844. Lose that line and the next level with any history is 0.03123, and it has only 6 touches to its name. Reclaiming 0.04126, which has been tested 14 times, is the first thing that would argue the low is in.
The uncomfortable part: the daily chart still reads bullish. RSI 70.72, EMA 9 above 21 above 50, daily volume at 3.65x average. The daily has not caught down to the hourly yet. Anyone anchoring to it is reading last week's chart.
And this is not a market event. $BTC is not printing 13.95% hourly ATR today. When one alt halves and the majors sit still, it is a coin problem.
Do you trust 0.03819, or do you want to see it hold twice first?
#MarketSentimentToday #WhaleMovements
Analysis, not financial advice.
$52.9m of quote volume went through in that window and almost all of it went one way. The 1h candles are now printing at 0.78x their 20-period average, so the sellers who did the damage have already finished. What is left is a thin book at the bottom.
0.03819 is where $BICO is decided — 17 measured touches on the 1h, 16 on the 15m. Price is 0.03844. Lose that line and the next level with any history is 0.03123, and it has only 6 touches to its name. Reclaiming 0.04126, which has been tested 14 times, is the first thing that would argue the low is in.
The uncomfortable part: the daily chart still reads bullish. RSI 70.72, EMA 9 above 21 above 50, daily volume at 3.65x average. The daily has not caught down to the hourly yet. Anyone anchoring to it is reading last week's chart.
And this is not a market event. $BTC is not printing 13.95% hourly ATR today. When one alt halves and the majors sit still, it is a coin problem.
Do you trust 0.03819, or do you want to see it hold twice first?
#MarketSentimentToday #WhaleMovements
Analysis, not financial advice.