Deep correction, the entire market is going through this at the moment, the risk of going to 0.10 is right there... if you have profit, take it and buy more lower....

$BIO HEALTHY CORRECTION OR DEEP REVERSAL ????

The Market Dynamics in Action

​This is a classic technical scenario after an explosive rally:
​Rejection at the Top: The rejection at the $0.2480 level indicates that many investors considered this price a good point to take profits, or that new sellers entered the market with force. This resistance was strong enough to reverse the bullish momentum.

​Break of Support: The break of important support levels serves as a trigger for more selling. For traders using technical analysis, the loss of a support level confirms the weakness of the asset and can lead to a "cascade effect" of stop-losses being triggered.

​Control of the "Bears": The "strong red momentum" is the visual proof that sellers now dominate the market. Instead of every drop being bought back (as we saw in the rally), now every price increase is being sold.

​This strong correction is the other side of high volatility. After such a large vertical movement, a sharp correction is common and even expected. The question now is whether this is a healthy correction to consolidate the price before a new high, or if it is the beginning of a deeper trend reversal.