The standout point on the $BASED chart is the textbook retest observed after the breakout.
We'd seen a similar structure in $LAB & $BEAT before. Prolonged consolidation, breakout, retest, and then strong price discovery...
Right now, #BASED might be in the early stages of a similar scenario.
The downtrend structure has broken
The retest is underway
Support is holding
If buyers continue to defend this area, a move like $LAB 's wouldn't be a surprise. Of course, market conditions and volume confirmation are critical.
Big moves usually start not when everyone expects a rally, but during those retest periods when no one's paying attention.
We'd seen a similar structure in $LAB & $BEAT before. Prolonged consolidation, breakout, retest, and then strong price discovery...
Right now, #BASED might be in the early stages of a similar scenario.
The downtrend structure has broken
The retest is underway
Support is holding
If buyers continue to defend this area, a move like $LAB 's wouldn't be a surprise. Of course, market conditions and volume confirmation are critical.
Big moves usually start not when everyone expects a rally, but during those retest periods when no one's paying attention.