BMT is down -11% today while the daily trend is still bullish. This is the setup contrarian traders live for.
Here's the picture: price at $0.0203, still above the daily SMA25 ($0.0171) and SMA99 ($0.0139). The 4H RSI sits at 55.7 — not oversold, but not showing panic either. This looks like profit-taking, not trend reversal.
Why I'd consider buying this dip:
✅ Daily structure intact (SMA7 > SMA25 > SMA99)
✅ RSI not showing distribution pattern
✅ Volume declining on the drop (0.74x) — sellers aren't aggressive
✅ Long/Short ratio at 0.95 — shorts are heavy, potential squeeze fuel
The risk: if it breaks below $0.017 (SMA25), the thesis is dead.
Trade Plan:
Entry: $0.019 — $0.0216
SL: $0.0169 (below SMA25 — this is the line in the sand)
TP1: $0.0211 | TP2: $0.0219 | TP3: $0.0227
Would you buy this dip or wait for more downside? 🤔
#BMT #CryptoTrading #DYOR
⚠️ Not financial advice. Do your own research.
Here's the picture: price at $0.0203, still above the daily SMA25 ($0.0171) and SMA99 ($0.0139). The 4H RSI sits at 55.7 — not oversold, but not showing panic either. This looks like profit-taking, not trend reversal.
Why I'd consider buying this dip:
✅ Daily structure intact (SMA7 > SMA25 > SMA99)
✅ RSI not showing distribution pattern
✅ Volume declining on the drop (0.74x) — sellers aren't aggressive
✅ Long/Short ratio at 0.95 — shorts are heavy, potential squeeze fuel
The risk: if it breaks below $0.017 (SMA25), the thesis is dead.
Trade Plan:
Entry: $0.019 — $0.0216
SL: $0.0169 (below SMA25 — this is the line in the sand)
TP1: $0.0211 | TP2: $0.0219 | TP3: $0.0227
Would you buy this dip or wait for more downside? 🤔
#BMT #CryptoTrading #DYOR
⚠️ Not financial advice. Do your own research.