BICO dumped 15.8% — panic selling or the best buying opportunity this week? 🤔
📊 The Setup:
Price at $0.02656 with $21.5M volume (1.21x average). Despite today's sharp drop, the 4H chart still shows price holding above SMA7 ($0.02636) — key support is being tested right now. Daily RSI at 55 is neutral, and 4H RSI at 65 remains constructive.
🎯 Why This Could Work:
The broader uptrend structure (SMA7 > SMA99) is still intact on the daily. This pullback could be profit-taking after a strong run, not a trend reversal. Volume is only slightly elevated — if this were a real breakdown, you'd see much heavier selling. L/S ratio at 1.10 is balanced.
📋 Trade Plan (Dip Buy):
Entry: $0.02478 - $0.02834
Stop Loss: $0.02194
TP1: $0.02762
TP2: $0.02868
TP3: $0.02975
⚠️ This is a counter-trend trade — use smaller position size and respect the stop.
Would you buy this dip or is it catching a knife? Let me know 👇
#BICO #CryptoTrading #DYOR
⚠️ Disclaimer: This is not financial advice. Always DYOR and manage your risk.
📊 The Setup:
Price at $0.02656 with $21.5M volume (1.21x average). Despite today's sharp drop, the 4H chart still shows price holding above SMA7 ($0.02636) — key support is being tested right now. Daily RSI at 55 is neutral, and 4H RSI at 65 remains constructive.
🎯 Why This Could Work:
The broader uptrend structure (SMA7 > SMA99) is still intact on the daily. This pullback could be profit-taking after a strong run, not a trend reversal. Volume is only slightly elevated — if this were a real breakdown, you'd see much heavier selling. L/S ratio at 1.10 is balanced.
📋 Trade Plan (Dip Buy):
Entry: $0.02478 - $0.02834
Stop Loss: $0.02194
TP1: $0.02762
TP2: $0.02868
TP3: $0.02975
⚠️ This is a counter-trend trade — use smaller position size and respect the stop.
Would you buy this dip or is it catching a knife? Let me know 👇
#BICO #CryptoTrading #DYOR
⚠️ Disclaimer: This is not financial advice. Always DYOR and manage your risk.