I’ve been following $BOB since its sharp decline on June 12. How about now? Well, its somehow getting stuck.
On the hourly chart of $1000000BOB it continues to make lower highs and lower lows, and on the 15-minute chart it’s trading in a narrow range. Immediate support is between 0.0508 and 0.0511, with additional support at the June 12 swing low of about 0.04938.
Resistance first appears at 0.05347—formerly a support level—and then at the EMA-35/50 overlap around 0.05527–0.05628.
The RSI is near 35, indicating it’s slightly oversold, and the MACD histogram shows a mild bullish divergence, which could point to a bounce.
My Take:
For a long position on #BOB a bullish setup around 0.0511 could target 0.0535 initially and then 0.0553. Conversely, a decisive break below 0.0508 would favor shorts, with an initial target of 0.04938 and the possibility of further downside. I’m using the 15-minute chart for precise entries while keeping the hourly trend in view, and I’m monitoring volume to confirm any move.