$BMT A Sharp Reversal Has Changed the Structure — Can Buyers Extend the Rally?
LONG SETUP
Entry Zone: 0.02300 – 0.02340
Stop Loss: 0.02030
TP1: 0.02430
TP2: 0.02500
TP3: 0.02600
Why This Setup?
Price has broken out of a prolonged descending channel after forming a major low near 0.02042. The breakout came with a noticeable increase in volume, suggesting that buying interest is returning.
The current price is around 0.02349, following a strong recovery from the channel's lower boundary. This shift in structure puts the focus on the next resistance levels.
The first hurdle is 0.02430. A sustained move above this level could open the door toward 0.02500, while stronger momentum may extend the rally toward 0.02600.
A pullback toward 0.02300–0.02340 could offer a more controlled entry if the breakout area holds as support.
Confirmation Trigger: A successful retest of the breakout zone or a decisive move above 0.02430.
Invalidation: A breakdown below 0.02042 would weaken the bullish reversal thesis.
Avoid chasing the breakout without confirmation. Consider risking only 1–3% of your trading deposit per trade.
The descending channel has been broken. Now the retest will reveal whether this recovery has staying power.
LONG SETUP
Entry Zone: 0.02300 – 0.02340
Stop Loss: 0.02030
TP1: 0.02430
TP2: 0.02500
TP3: 0.02600
Why This Setup?
Price has broken out of a prolonged descending channel after forming a major low near 0.02042. The breakout came with a noticeable increase in volume, suggesting that buying interest is returning.
The current price is around 0.02349, following a strong recovery from the channel's lower boundary. This shift in structure puts the focus on the next resistance levels.
The first hurdle is 0.02430. A sustained move above this level could open the door toward 0.02500, while stronger momentum may extend the rally toward 0.02600.
A pullback toward 0.02300–0.02340 could offer a more controlled entry if the breakout area holds as support.
Confirmation Trigger: A successful retest of the breakout zone or a decisive move above 0.02430.
Invalidation: A breakdown below 0.02042 would weaken the bullish reversal thesis.
Avoid chasing the breakout without confirmation. Consider risking only 1–3% of your trading deposit per trade.
The descending channel has been broken. Now the retest will reveal whether this recovery has staying power.
