$BSB update 👀
The bounce finally arrived, but for now I'm treating it as nothing more than a relief rally.
After the aggressive sell-off from $0.30, buyers managed to defend the $0.223 support area and push price back above it. That's the first positive sign we've seen in a while.
🟡 Support around $0.223 is still holding
🟡 Selling pressure has slowed significantly
🟡 The market is trying to build a base after weeks of downside
However:
🔴 The bigger structure is still bearish
🔴 Price remains far below the major resistance at $0.30
🔴 EMA continues to slope downward and act as overhead resistance
For me, the next step is simple:
✅ Hold above $0.223 and continue building a base
✅ Print a lower high first, followed by consolidation
✅ Eventually reclaim $0.245-$0.25 to start talking about a larger recovery
A lower high here would actually be healthy. The market needs time to absorb supply and prove that buyers are willing to step in at higher prices.
On the bearish side:
🔴 Losing $0.223 again would invalidate the short-term recovery attempt and could open the door for another leg lower and new lows.
For now, this still looks more like an accumulation and stabilization phase rather than the beginning of a new uptrend.
Patience is key. The first thing I want to see is a proper higher low and then a lower high reclaim before becoming aggressively bullish again. 🚀📈
The bounce finally arrived, but for now I'm treating it as nothing more than a relief rally.
After the aggressive sell-off from $0.30, buyers managed to defend the $0.223 support area and push price back above it. That's the first positive sign we've seen in a while.
🟡 Support around $0.223 is still holding
🟡 Selling pressure has slowed significantly
🟡 The market is trying to build a base after weeks of downside
However:
🔴 The bigger structure is still bearish
🔴 Price remains far below the major resistance at $0.30
🔴 EMA continues to slope downward and act as overhead resistance
For me, the next step is simple:
✅ Hold above $0.223 and continue building a base
✅ Print a lower high first, followed by consolidation
✅ Eventually reclaim $0.245-$0.25 to start talking about a larger recovery
A lower high here would actually be healthy. The market needs time to absorb supply and prove that buyers are willing to step in at higher prices.
On the bearish side:
🔴 Losing $0.223 again would invalidate the short-term recovery attempt and could open the door for another leg lower and new lows.
For now, this still looks more like an accumulation and stabilization phase rather than the beginning of a new uptrend.
Patience is key. The first thing I want to see is a proper higher low and then a lower high reclaim before becoming aggressively bullish again. 🚀📈