Trading Plan Long $BMT
$BMT just swept the daily low on a big flush, now reclaiming the $0.019 area.
Entry: $0.01960-$0.02020
Stoploss: $0.01850
Targets: $0.02150 / $0.02380 / $0.02650
BMT got slammed hard, but that -29% flush took out a ton of weak hands. OI dropped 8% and funding is still negative, so shorts are likely over-extended here. The 1H BB is squeezing tight after the drop, signaling a bounce is brewing. Daily trend is still bullish, this looks like a deep retrace for continuation. Lose $0.01850, thesis dead.
Trade $BMT here👇
$BMT just swept the daily low on a big flush, now reclaiming the $0.019 area.
Entry: $0.01960-$0.02020
Stoploss: $0.01850
Targets: $0.02150 / $0.02380 / $0.02650
BMT got slammed hard, but that -29% flush took out a ton of weak hands. OI dropped 8% and funding is still negative, so shorts are likely over-extended here. The 1H BB is squeezing tight after the drop, signaling a bounce is brewing. Daily trend is still bullish, this looks like a deep retrace for continuation. Lose $0.01850, thesis dead.
Trade $BMT here👇