$BICO 💫
$BICO crashing 4.7% with 5.6x volume surge
- I expect more downside for now, as the brutal sell-off with ultra-high volume and no immediate reversal wick suggests sellers are still in control.
- If price bounces to 0.01974 or 0.02110 and gets rejected with clear reversal confirmation (such as a pin bar, lower timeframe bearish engulfing, or several failed attempts to break higher), this is a solid short entry zone.
- Trade scenario: Enter short on rejection at 0.01974–0.02110 with confirmation (watch for sharp wicks, lower highs, or a return of strong sell volume). Target 0.01860 as the first take profit, and 0.01730 as the extended target.
- Do NOT short into the hole here — wait for a weak bounce and supply confirmation. Place your stop-loss above the most recent swing high or above the resistance being challenged.
- If price suddenly reclaims and holds above 0.02110 with buyer aggression, bias shifts to neutral and I’d wait for further confirmation before considering any long positions.
- This volume anomaly is often liquidation-driven, but if there’s no V-shaped recovery, smart money is likely distributing into failed bounces — so be patient for the best entry.
📝 This is not investment advice, just an educational report. Watch for confirmation before entering any trade, and always trade with good risk management!
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#BICO