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BSB, I've been following this wave of the market for several days, from 0.15 up to 0.94, a straight 5x increase. Now the market looks clearly off, with high-level volume drying up and stagnating, MACD red bars almost gone, KDJ dead cross heading down, trading volume halved from its peak, main funds starting to flow out, retail investors taking the bait, exactly like the crazy coin trend of RAVE back then.
Currently, it's in the high-level trap phase, mainly cautious and slightly bearish.
Remember these key price levels.
Resistance above is 0.85-0.90; if it can't break through, it will drop back down. If broken, the limit target is 1.00, but the probability is very low.
Support below is first at 0.70-0.72; if it can't hold, it will head toward 0.60-0.62, with an extreme support around 0.50.
In terms of trading, the conservative approach is to wait for a rebound to the 0.85-0.90 range, and if it can't push higher and closes with a large bearish candle, try shorting with a small position, stop loss at 0.95, take profit at 0.72, then watch for 0.60.
The aggressive approach is to short at the current price with a small position, stop loss at 0.85, take profit at 0.70.
Long positions are only recommended if it dips back to 0.60-0.62 and stabilizes, with a large bullish candle to stop the decline, then lightly add to the position for a rebound, stop loss at 0.55, take profit at 0.75, and do not exceed 20% of your total position.
A reminder: crazy coins rise fast and fall even faster. RAVE doubled in a week and wiped out in two days. BSB's current gains are already high, and once liquidity returns on Monday, it could easily crash. Don't leverage to the max, take profits when you see gains, and don't go against the trend.