$BIO Just Faced a Long Liquidation Worth $1,838 at $0.0530 – Is a Big Move Coming?
The market just shook out weak hands with a sharp long liquidation at $0.0530. This level is now a key psychological and technical zone. Such liquidations often signal a potential reversal or stronger downside continuation – time to pay attention.
Technical Analysis
Current Price: Around $0.0530
Support Zone (Buy Zone):
Primary Entry Range: $0.0500 – $0.0520
This is where demand has previously stepped in. If price holds here, a bounce is very possible.
Resistance Zone (Targets):
Target 1: $0.0575 (recent swing resistance)
Target 2: $0.0600 (major breakout level)
Target 3: $0.0635 (mid-term profit zone if momentum builds)
Stop Loss:
Conservative: $0.0485
This level invalidates the current bullish structure and may lead to deeper correction.
Summary Strategy
Buy Zone: $0.0500 – $0.0520
Targets: $0.0575 / $0.0600 / $0.0635
Stop Loss: $0.0485
This is a high-risk, high-reward setup, ideal for traders who thrive on volatility. Keep a close watch – volume and momentum confirmation are critical before entry. If it breaks below $0.0485, step back and reassess.