$BMT just printed the heaviest sell bar of the day — and leg 3's line is the only wall left.
The tape: 09:00 UTC opened $0.02646, flushed to $0.02361, closed $0.02404 on $1.71M of hourly volume — the biggest 1h bar of the day. Then 11:00 UTC tagged a fresh print $0.02323. That's the $0.02340 leg-3 open I named as support in the last post — tested to the pip, and so far holding. Closes since: $0.02359, $0.02476, $0.02399, $0.02378. Live $0.02381, -9.5% in 24h.
That's -23% off the $0.03015 top in under 10 hours. The resurrection died, and the unwind sequel is now eating leg 3.
The numbers: rank #888, $18M market cap — genuinely small — global volume $52.5M today, almost 3x the whole market cap changing hands in 24 hours. -92% off the $0.317 ATH, 75.3% circulating.
No new headline either. The newest real story is still the Oct 14 front-running allegations. The rest is quote pages and Square sentiment. This move is pure tape.
Levels I'm watching: resistance $0.02404 (the flush bar's open), then the broken $0.02773 ceiling. Support $0.02340 — a 1h close below it and leg 3 is dead, leaving the $0.020–$0.021 base (~-15% from here, the full round-trip).
Six legs in four days now, and every single one unwound in full within hours. These things wreck accounts — the wick giveth, the wick taketh.
Does $0.02340 hold into the US session, or is the full round-trip the destination?