$BIO ‌$BIO Hold the support at $0.322 after a strong rally!


Key levels: Price at $0.0322; support at $0.0310 to $0.0315 and $0.0300; resistance at $0.0336, then $0.0350.
Buy signal: Enter around $0.0310 to $0.0315 when the 1-hour EMA tests again, or if a deeper correction occurs, enter at $0.0300.
Sell signal: Reduce positions at the high of $0.0336 and at the Fibonacci extension target of $0.0350.
BIO surged 12.9% to $0.0322, and held the 1-hour EMA support zone at $0.0310 to $0.0315 amid a volume increase of 3.7 times.
Breakthrough of $0.0300 on the 4-hour chart has been confirmed, MACD turned positive, but the RSI on the 5-minute chart shows a pullback from overbought levels.
To continue the rally, close above $0.0330 on the 1-hour chart; if it drops below $0.0295, the entire bullish structure will be invalidated.
The long-short ratio has fallen to 0.61, but 98% of shorts are still in floating loss, with an entry at $0.0306.
If large short positions decisively return to $0.0306 and volume confirms, a short squeeze momentum will form.
Head traders have slightly sold off, but the structural support at $0.0300 limits short-term downside risk for bulls.
Short-term: Short on the 5-minute chart near overbought conditions around $0.0336, or buy on dips at $0.0315 with strict stop-loss below support at $0.0300.
Mid-term: Hold long positions above $0.0300, targeting the extension at $0.0350 as volume peaks and momentum strengthens during activity.
Long-term: Keep a close eye on the $0.0295 support; if it can be maintained, it confirms a macro breakout from monthly consolidation with potential for accumulation.
BIO22.42%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments