$BMT - SHORT Setup
Entry: 0.0236 – 0.0239 (On a rejection after retesting the breakdown level/resistance zone)
Target 1:0.0227 (24h Low)
Target 2:0.0220
Stop Loss:0.0243 (Above the 24h high and key resistance)
My View:
BMT is in a clear and persistent downtrend,down over 68% in 90 days. The price is currently in a weak consolidation bounce after another breakdown. This bounce is approaching a major resistance zone between $0.0236 and $0.0239, which aligns with the 24h high and previous support levels. The chart shows a series of lower highs, and the momentum remains decisively bearish. The order book indicates more selling pressure than buying above the current price. In a trend this strong, the high-probability play is to short into relief rallies. I am waiting for price to reject the $0.0236–$0.0239 area to add a short position, targeting a continuation to new lows.
Bias: Bearish below $0.0239. A break and hold above $0.0243 is needed for any trend reversal consideration.
Disclaimer:My plan. Not advice. Trade your own risk.
