The move is strong, but I wouldnโt chase this candle.
What stands out to me is how quickly
$BMT moved from a quiet base into a sharp expansion. After a move like that, the interesting part isnโt โhow high can it go?โ โ itโs whether buyers can actually defend the breakout area.
Current price: ~0.02394
Trend: ๐ข Bullish
The 1H structure is clearly making higher highs and higher lows. Price is also holding above all three moving averages:
MA7: 0.02417
MA14: 0.02067
MA28: 0.01689
That alignment supports the bullish structure, although price is now quite extended from the longer averages.
What Iโm watching
Entry zone: 0.0225โ0.0240
Iโd rather see a pullback and stabilization here than enter after another vertical candle.
Support:
0.0200โ0.0210 โ important near-term demand area
~0.0169 โ deeper structural support around MA28
Resistance:
0.02742 โ current 24H high / major liquidity area
Thereโs likely to be plenty of liquidity around that previous high. A clean break and 1H close above it would be more interesting to me than simply touching it.
Targets / scenarios
T1: Retest of 0.02742
T2: If 0.02742 breaks with real follow-through, Iโd look for the next expansion rather than blindly assigning a target.
I wouldn't treat those as guaranteed levels. The market needs to prove the breakout first.
Invalidation
For a pullback-based long setup, losing the 0.0200 area and failing to reclaim it would weaken the current bullish structure considerably.
The bigger invalidation sits around 0.0169, where the 28-period MA is currently running.
Volume + liquidity
The chart doesn't show a volume histogram, so I wouldn't pretend we have volume confirmation here. What we can see is the huge expansion in price and the sharp rejection/consolidation after the 0.02742 high.
Thatโs the part Iโm paying attention to.
My confirmation:
Iโd wait for either:
1. a controlled pullback into the 0.0225โ0.0240 area followed by a bullish reaction, or
2. a clean 1H breakout above 0.02742, followed by a successful retest.
If neither happens, Iโm okay staying out.
Strong trend โ automatic entry. After a +84% move, protecting capital matters more than trying to catch every candle.
Educational only โ not financial advice. Always manage position size and risk.
#BMTToken