$OM Relief Bounce or Bull Trap❓ Watch This Move Closely❗$OM has climbed to $0.7614, bouncing hard from the recent low of $0.6560 after an aggressive -87% drop. This sharp recovery on the 15m chart looks promising at first glance but the bigger question remains: can it hold❓
Key Observations:
Volume spike suggests buyers are trying to regain control.
RSI(6) is hovering around 72, and StochRSI is deep in overbought territory—indicating potential short-term exhaustion.
Strong resistance looms near $0.8100, with $0.8600 being the next ceiling if the rally continues.
Trade Setup (Short-term):
Entry Zone (Buy on strength): $0.7400 – $0.7600
Target 1: $0.8100
Target 2: $0.8600
Stop Loss: $0.6990
Caution: If this bounce loses steam near resistance or volume fades, we may see a pullback back toward $0.7000 or lower. It’s still a fragile recovery after a brutal sell-off.
Let price confirm this could be the start of a new base or just a dead-cat bounce. Stay sharp.