$BICO 24 hours rose 16.7%, but if you isolate the last completed 1-hour candle—opened at 0.05969 and closed at 0.05633, with volume only 0.86x the average of the previous 20 hours. The discussion board is arguing about this: one group says it’s an oversold rebound worth chasing, while another says there’s no incremental buying and the faster it rises, the faster it pulls back.
――― Direction: don’t go long before the rebound is confirmed; wait until 0.0598 holds first
Who’s right depends on whether funds are willing to absorb at higher levels. 24-hour turnover was 44.34 million USD, which is not much larger compared with the move up from the 0.041 low; it looks more like short covering and short-term capital fighting it out, not fresh money entering. RSI(14) has just crossed 60, so it’s not overbought yet, but there isn’t much room left to keep accelerating either.
I’m watching 0.0554—the area near today’s low. A break below it would mean the rebound structure has been damaged; the stop-loss reference is 0.0525. The real trigger is a 1-hour close holding above 0.0598, which is above the high of that wick just now. Without that step, I won’t treat it as a breakout.
This rally is now in its third day. The first two days both ran into resistance and pulled back, and tonight’s bearish candle is the third test of the 0.06 area. If tonight’s close still can’t get back above it, I’ll turn this alert off directly and wait for the next volume expansion before reassessing.
――― Direction: don’t go long before the rebound is confirmed; wait until 0.0598 holds first
Who’s right depends on whether funds are willing to absorb at higher levels. 24-hour turnover was 44.34 million USD, which is not much larger compared with the move up from the 0.041 low; it looks more like short covering and short-term capital fighting it out, not fresh money entering. RSI(14) has just crossed 60, so it’s not overbought yet, but there isn’t much room left to keep accelerating either.
I’m watching 0.0554—the area near today’s low. A break below it would mean the rebound structure has been damaged; the stop-loss reference is 0.0525. The real trigger is a 1-hour close holding above 0.0598, which is above the high of that wick just now. Without that step, I won’t treat it as a breakout.
This rally is now in its third day. The first two days both ran into resistance and pulled back, and tonight’s bearish candle is the third test of the 0.06 area. If tonight’s close still can’t get back above it, I’ll turn this alert off directly and wait for the next volume expansion before reassessing.