$BIO ( UPDATE )
Cleary Breakout or fakeout
I think it needs restest support
If a breakout does occur, the next Fibonacci retracement becomes a fairly clear roadmap:
$0.034 → $0.0388 → $0.0442 → $0.0509 → $0.0618
Conversely, a rejection makes:
$0.030 → $0.026 → $0.02345 → $0.0216
Technical Conclusion
Short-term structure: Starting to be bullish/recovery.
Intermediate structure: Still in the process of breaking out of the downtrend.
Momentum: Strong, but the RSI is already high.
Key resistance: $0.033–$0.034.
61.8% Fib: around $0.0333.
50% Fib: around $0.0388.
38.2% Fib: around $0.0442.
Key support: $0.026 / $0.02345 / $0.0216
A zone to watch! 👀
#BIO
Cleary Breakout or fakeout
I think it needs restest support
If a breakout does occur, the next Fibonacci retracement becomes a fairly clear roadmap:
$0.034 → $0.0388 → $0.0442 → $0.0509 → $0.0618
Conversely, a rejection makes:
$0.030 → $0.026 → $0.02345 → $0.0216
Technical Conclusion
Short-term structure: Starting to be bullish/recovery.
Intermediate structure: Still in the process of breaking out of the downtrend.
Momentum: Strong, but the RSI is already high.
Key resistance: $0.033–$0.034.
61.8% Fib: around $0.0333.
50% Fib: around $0.0388.
38.2% Fib: around $0.0442.
Key support: $0.026 / $0.02345 / $0.0216
A zone to watch! 👀
#BIO
