BICO is down -10.59% today but the 4H chart still shows an UPTREND. Most people are panic selling right into the smart money's hands.
đ What I See:
BICO at $0.0231 with 4H RSI at 51 â dead neutral. Price is still above the daily 7-SMA ($0.0217) and daily 99-SMA ($0.0215). Volume at 1.06x â perfectly normal, no panic.
The 4H 25-SMA at $0.0229 is acting as immediate support. Price is right on top of it.
đĄ Why This Trade?
When a coin drops 10% but holds above its key daily moving averages on normal volume, that's not a trend reversal â that's a shakeout. The uptrend on the 4H chart is intact until proven otherwise.
đŻ The Plan:
⢠Entry Zone: $0.0213 â $0.0248
⢠Stop Loss: $0.0186
⢠TP1: $0.0240
⢠TP2: $0.0249
⢠R:R = 0.2
⥠This is a swing trade â catch the bounce from support and ride it back to the 4H MA.
đ Shakeout or start of a bigger drop? What's your take on BICO?
#BICO #DYOR #CryptoTrading
â ď¸ Not financial advice. Do your own research. Crypto is volatile â never risk more than you can afford to lose.
đ What I See:
BICO at $0.0231 with 4H RSI at 51 â dead neutral. Price is still above the daily 7-SMA ($0.0217) and daily 99-SMA ($0.0215). Volume at 1.06x â perfectly normal, no panic.
The 4H 25-SMA at $0.0229 is acting as immediate support. Price is right on top of it.
đĄ Why This Trade?
When a coin drops 10% but holds above its key daily moving averages on normal volume, that's not a trend reversal â that's a shakeout. The uptrend on the 4H chart is intact until proven otherwise.
đŻ The Plan:
⢠Entry Zone: $0.0213 â $0.0248
⢠Stop Loss: $0.0186
⢠TP1: $0.0240
⢠TP2: $0.0249
⢠R:R = 0.2
⥠This is a swing trade â catch the bounce from support and ride it back to the 4H MA.
đ Shakeout or start of a bigger drop? What's your take on BICO?
#BICO #DYOR #CryptoTrading
â ď¸ Not financial advice. Do your own research. Crypto is volatile â never risk more than you can afford to lose.