🔻 BMT is dumping — down 6.7% with INSANE volume. $154.2M traded, 7.39x the average. This is not normal selling. This is capitulation.
When volume spikes 7x on a red candle, something is breaking. And the structure confirms it: BMT broke below the 4H SMA7 ($0.01902) and is now trading below the daily SMA25 ($0.01882). The 4H RSI at 31.8 is nearing oversold, but the daily RSI at 49.1 says there is plenty of room to fall further.
📊 Why I Am Looking Short:
The daily MACD is still slightly positive (+0.0012) but the histogram is barely expanding (+0.0002) — momentum is fading fast. On the 4H, MACD is deeply negative and the histogram is contracting. Sellers are in control.
Price at $0.01808 is trapped between the 4H SMA25 ($0.02010) above and the daily SMA99 ($0.01435) below. The path of least resistance is down.
🎯 Trade Plan (SHORT):
Entry: $0.01773 – $0.01843
Stop Loss: $0.01949 (above 4H SMA25, ~1.5x ATR buffer)
TP1: $0.01719 | TP2: $0.01666 | TP3: $0.01595
Risk/Reward: 0.6R
⚠️ Caution: 4H RSI at 31.8 means a bounce is possible. This is a momentum short, not a position trade. Take profits quickly.
💭 BMT holders — are you cutting here or averaging down? Be honest with yourselves 🫣
#BMT #CryptoTrading #DYOR
⚠️ Disclaimer: This is not financial advice. Trading crypto involves significant risk. Always do your own research and never invest more than you can afford to lose.