🚨 $BSB Volatile Bearish after a strong rally.
Recent candles show the price consolidating after a steep drop, with volume moderating but remaining elevated compared to earlier periods. This high-volume rejection at the top is a classic distribution signal, suggesting strong selling pressure at higher levels. The current price action near recent lows on sustained volume indicates ongoing selling interest.
Look for Shorting Opportunities on a pullback. The primary trend on higher timeframes remains up, but the 1h structure is bearish following a parabolic rise and rejection. The confluence of price below key MAs, bearish MACD crossover, price pressing the lower Bollinger Band, and the high-volume rejection pattern outweighs the neutral RSI. Strong contract inflows amidst a price decline can be a bearish signal (funding longs/shorts for downside).
Entry short $BSB : around 0.68- 0.70
• Aggressive entry could be considered on a break below the BOLL Lower Band 0.56 with volume
Stop-Loss: at 0.72 is suggested.
Target Price $BSB : 0.55-0.45 support zone
Trade here 👇
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