Imagine that BIO was half asleep and suddenly, it woke up with a bang! Its value skyrocketed, surpassing resistances that seemed impossible. The reason behind this surge is not just speculative: the company announced that it is negotiating funding for its clinical trials, which aim to improve brain health. This gave it a credibility that investors drank in one gulp. 🧠✨
But not everything is rosy. After hitting a peak of $0.268, the price pulled back. For those who know, this is a sign that the "rally" is running out of steam.
The RSI, which measures momentum, is in overbought territory, a historical indicator that a pullback is coming. Remember that friend who overdoes it at the party and then crashes? Exactly, something like that. 🫠
So, what is the plan for those who want to get in on the action?
Experts are closely watching the levels of $0.151 and $0.175. According to Fibonacci analysis, that area is the likely "landing" spot for the price. Additionally,
the liquidation heatmap, which shows where there are more buy orders waiting, also points to the $0.18 area. So, if this crypto continues to drop, that could be the perfect place to catch it.
The future of BIO also depends on the "mother currency", Bitcoin. If BTC rises this weekend, it could pull BIO along and give it another boost. But if BTC crashes below $115,000, it could be the signal for BIO to follow the same path. 🤝
In summary, Bio Protocol has shown that it has potential, but now it is at a critical moment. The question is whether it will consolidate its gains or if the "rocket effect" will deflate for a while. The street is hot and one must stay alert. 🔥$BIO $BTC
