🔥 After the Pump: Consolidation or Correction?

🧐 $BIO saw some explosive volatility recently, breaking out of a long consolidation period with massive volume. The key question now is whether this is the start of a new uptrend or just a short-lived spike. Price is currently trying to find its footing after the parabolic move.

Here are the potential scenarios:

📈 Long setup: A leveraged long could be attractive if the price successfully retests and holds the support area around $0.065. This would indicate buyers are stepping in to defend the recent gains, potentially targeting the recent highs near $BTC

📉 Short setup: A leveraged short comes into play only if we see a decisive breakdown below the critical $0.06 support. Losing this level would invalidate the recent breakout and could trigger a sharp move down towards the previous range lows.

NFA/DYOR.

#BIO #Volatility #CryptoNews