BMT – Overbought in the short term, prioritize shorting resistance
#BMTInterestFlow #AltcoinStrategy #FuturesTrading
Current price: ~$0.119
BMT has just experienced a strong upward move, short-term RSI indicates overbought conditions, showing signs of stalling near the resistance area of $0.1225. Erratic volatility, prone to correction if buying pressure cannot be maintained.
⸻
🔹 Spot Strategy:
⛔ No recommendation for Spot. BMT has risen quickly and is currently weakly accumulating near the old resistance area, prone to a sell-off.
⸻
🔸 Future Strategy:
1. Short (priority):
• Entry: 0.1225
• SL: 0.1290
• TP: 0.1150
🟠 Probability: 65%
📌 Strong resistance at $0.1225. Can short if a rejection candle appears or signs of weakening volume.
2. Long (not a priority, only for quick scalping):
• Entry: 0.1089
• SL: 0.1050
• TP: 0.1150
🔵 Probability: 35%
📌 High risk due to the short-term upward trend being exhausted. Suitable only for quick trades if there are strong rebound signals from support.
⸻
⚠️ Warning: BMT has low liquidity, highly volatile according to speculative capital flows. It is not advisable to hold positions overnight or enter trades during significant BTC fluctuations.
⸻
⏱ Update: 15/6/2025 – 07:05 GMT+7