$BAS 🆘 Red Alert: 4.4% Dump on
$BAS - With the recent 4.4% dump and a spike in volume, this is likely not the absolute bottom, but a local bottom could form if there's a quick liquidity sweep below 0.032151 and price sharply reverses.
- I expect the price to first test down towards 0.032151. If it sweeps this level and reclaims it, a quick relief bounce towards 0.035711–0.036224 or 0.037077 is likely, where sellers could re-enter.
- If the 0.032151 support is lost with no reversal, anticipate more downside to 0.031683 or even 0.029536.
- For a short position, wait for a bearish rejection from 0.035711–0.036224 or 0.037077 with confirmation such as a bearish engulfing candle or lower timeframe breakdown. Entry can be around 0.036000–0.037000 if you see rejection there, with take profit at 0.032151 and 0.031683. Stop-loss should be placed above the most recent swing high.
- For a long scalp, only consider entering if you see a clear manipulation below 0.032151 and fast reclaim, with confirmation such as a pin bar, bullish engulfing, or a strong move on lower timeframes. Target the 0.035711–0.036224 area for exit and place stop-loss below the sweep low.
Example trade confirmations:
- If price pushes below 0.032151, wicks deep, then closes back above on strong volume with bullish structure on the 5m, you could long towards 0.0357.
- If price bounces to 0.0362–0.0370 and prints a clear reversal candle (like a shooting star or bearish engulfing), look for a short targeting 0.0321 and trail to 0.0317, with stop-loss above the bounce high.
📝 This is not investment advice, just an educational analysis prepared for you. Make sure to wait for confirmation signals before acting. Stay safe!
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