$BBX This trend is pretty interesting. BlackBerry—the old-school phone maker that got taken out by the iPhone back then—is now showing up in the market wearing the shell of “network security” and “connected cars.” Over the last 24 hours it’s down more than 7 points: from 9.117 down to 8.063, and it closed at 8.183. Volume is 6.3M—this amount isn’t small for $BBX , which suggests some people are moving it, and that others are jumping in too.
There are two key price levels to watch. 8.06 is today’s low—if it breaks, the short-term setup is basically done, and the next support to look for is around 7.6. Above, 9.11 is today’s high, also the ceiling of this rebound. You only get a strengthening signal if it can get back above that.
Personally, I lean bearish. For these 7x24 TradFi tokens, liquidity is usually fine during normal trading hours. But when the crypto market suddenly sells off hard, the depth turns out to be paper-thin. $BBX ’s fundamentals don’t really have any new story—once it drops, there’s no real bid to prop it up. Any rebound is basically an opportunity for shorts to add.
As for how to trade: above 8.3 you can consider going short. Put the stop-loss at 8.5. First target: 8.0. If it breaks, then watch for 7.6. For longs, they should wait until it can firmly hold above 9.2—otherwise, buying now is just catching a flying knife…
There are two key price levels to watch. 8.06 is today’s low—if it breaks, the short-term setup is basically done, and the next support to look for is around 7.6. Above, 9.11 is today’s high, also the ceiling of this rebound. You only get a strengthening signal if it can get back above that.
Personally, I lean bearish. For these 7x24 TradFi tokens, liquidity is usually fine during normal trading hours. But when the crypto market suddenly sells off hard, the depth turns out to be paper-thin. $BBX ’s fundamentals don’t really have any new story—once it drops, there’s no real bid to prop it up. Any rebound is basically an opportunity for shorts to add.
As for how to trade: above 8.3 you can consider going short. Put the stop-loss at 8.5. First target: 8.0. If it breaks, then watch for 7.6. For longs, they should wait until it can firmly hold above 9.2—otherwise, buying now is just catching a flying knife…
