BMT has made a sharp breakout on the 1H chart, moving from the $0.015 area to around $0.0232 in a very short time. That kind of move usually needs some cooling off before the next direction becomes clear.
Price is now sitting inside the $0.0232-$0.0248 supply zone, and the reaction so far suggests sellers are already showing up. A rejection here could send the price back toward the recent breakout area around $0.0170-$0.0180.
The setup on $BMTis therefore leaning toward a pullback first. If buyers manage to absorb the selling pressure and reclaim $0.0248, the bearish idea weakens and another push higher could follow.
Losing $0.0170 would be a deeper warning and could expose the lower $0.0150-$0.0160 region. Until the supply zone is convincingly cleared, I’d be more interested in how price reacts on the pullback than chasing the current spike.
#Altcoin Season# #Meme Alpha# #Bullish
Price is now sitting inside the $0.0232-$0.0248 supply zone, and the reaction so far suggests sellers are already showing up. A rejection here could send the price back toward the recent breakout area around $0.0170-$0.0180.
The setup on $BMTis therefore leaning toward a pullback first. If buyers manage to absorb the selling pressure and reclaim $0.0248, the bearish idea weakens and another push higher could follow.
Losing $0.0170 would be a deeper warning and could expose the lower $0.0150-$0.0160 region. Until the supply zone is convincingly cleared, I’d be more interested in how price reacts on the pullback than chasing the current spike.
#Altcoin Season# #Meme Alpha# #Bullish
