LIVE$BOME Is Now Trapped Inside The Bearish Flag Pattern And Things Are Looking Sluggish In The Short Term 📉
🚫 Things are not bullish for Bome yet. On the daily time frame it has been moving forming a bearish flag pattern and today it broke the lower trendline as well (You can draw the same on the 4H time frame as well). Usually after a decline formation of such a pattern indicates further weakness and we may witness some fall, even a support retest in the coming days.
📌 Now the most important thing will be today's closing. It is already trading below its crucial support of $0.01 and drawing further down to $0.009. If it breaks down even further the next levels to watch are $0.08 following by final support at 0.007118 on the Binance chart. If it even breaks this final support it'll be in a price discovery mode looking for a new support.
Circumstances can only get better if it stays strong near its support zone and then starts marching ahead. But as of now things are a bit sceptical and could be volatile in the coming days.
📢 Keep an eye on the support levels before taking any trade. The market is highly volatile right now and all the major coins are going through a draw down in prices. We may witness the weakness in the week ahead as well. I'll bring a weekly time frame analysis on the market in my next post.
Please #DYOR!! and take your trading decisions wisely. Keep learning, keep growing. 🚀💰✅
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