$BAS 🔴 4.3% Bearish Plunge on
$BAS , where's the support?
- Based on the power of the dump and overwhelming bearish signals, I expect more downside is likely unless there is a strong, swift rejection and recovery above 0.0325–0.0340.
- If price bounces weakly and gets rejected below 0.0340 (look for a bearish pin bar or engulfing candle), consider a short entry near 0.0325–0.0340 with a target first at 0.029525 and then 0.026593. Stop-loss should be above the most recent swing high of the bounce.
- However, if price quickly snaps back above 0.0340 and holds, especially with strong bullish candles and volume, this could trigger a short squeeze toward 0.038000 or even the equilibrium zone at 0.038385. In that case, do *not* enter a short—wait for rejection or signs of supply overwhelming demand.
- Confirmation examples: On the 5m or 1m chart, look for a sweep of 0.0325–0.0340 followed by a sharp reversal (e.g., bearish engulfing, long upper wick, multiple failed green candles). Alternatively, monitor for price holding under 0.0325 with rising ask volume and no sustained push upwards.
- If 0.029525 is broken with momentum, the next target is 0.026593. If 0.0340 is convincingly reclaimed with a bullish structure, do not stay short—wait for a new setup.
- This is a highly volatile spot, so manage risk and only trade confirmed setups!
📝 This is not investment advice, but an educational report to help you understand the price structure and possible trade scenarios. Always use tight risk management, especially after high-volatility moves like this!
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