erel king

$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

$BIO
The dominant structure is a long-term descending channel/trendline:

• Major high around $0.06–0.065
• Successive lower highs afterward
• Price is now around $0.0247
• The large descending resistance is still overhead.

So the chart has not yet confirmed a full trend reversal. What it has done is establish a potentially important base around $0.021–0.022.

Bullish scenario
A daily close above approximately $0.027 would be the first meaningful structural improvement.
If that happens and volume expands, the next areas to watch are roughly:

$0.030 → $0.035 → $0.045

The $0.035 region is particularly important because it corresponds to the previous breakdown/consolidation area.
The really important reversal confirmation would ultimately be a break of the large descending trendline, not merely a move from $0.025 to $0.030.

#Biotech

Binance