$BICO 🌀
$BICO crashing 10.3% with 13.8x volume surge
- With this much volume and velocity, we’re likely to see another move down to sweep liquidity at or below 0.01568, but a temporary bounce is highly probable before new lows. Watching for a bounce into the closest resistance at 0.01688–0.01730, where sellers are likely to show up again.
- The ideal short setup is to wait for price to fail at or near 0.01688–0.01730, with clear confirmation: look for a lower high, bearish engulfing or pin bar, and decreasing buy volume on the retest. Enter short there, targeting 0.01642 first, and then 0.01568 as next take profit. Stop-loss should be above the bounce’s swing high.
- If price suddenly reclaims 0.01730 and holds above it on strong volume, that’s a sign bears are trapped and a move to fill the gap at 0.01762–0.01826 could follow. In that case, I would not short and would wait for new structure.
- If you see another sharp flush below 0.01568 with a high volume wick and immediate reversal (pin bar, engulfing, or bullish divergence on lower timeframes), that could signal a temporary bottom and a possible scalp long up to 0.01642 or even 0.01688.
- Right now, I expect more volatility and another test down, but with a high chance of a short-lived bounce first. Do not chase the price after such a violent move — wait for clear confirmation, especially on rejection at resistance or absorption at new lows.
📝 This is not investment advice, but an educational report based on current price structure, smart money concepts, and volume analysis. Trade safely and always wait for confirmation!
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