🟢 BMT/USDT LONG SETUP. Watching the Demand Retest

BMT has caught my attention after a move up followed by a quick drop.

The interesting part is not just that the price went up. What I'm paying attention to now is how the price responded after the drop.

BMT moved toward the 0.0278 level, where sellers came in strongly and pushed the price down. That drop brought the price into the 0.0217 to 0.0226 area, which's a key support and demand area on my chart.

Of trying to get in during the first rise I'm waiting for a controlled entry during a pullback.

📌 LONG ENTRY: 0.02262 to 0.02200

⚡ Leverage: Cross 20x

🛑 STOP LOSS: 0.02100

🎯 PROFIT TARGETS

TP1 → 0.02310

TP2 → 0.02430

TP3 → 0.02550

Why this setup?

This setup is based on a things that are happening at the same time:

1️⃣ Strong bullish move

BMT previously went higher with strong force and made a new high around 0.0278. That shows that buyers were able to push the price up

2️⃣ Big drop into support

After the drop the price came back to the 0.022 area of going lower right away. This area is where previous price action happened and also where there is demand and FVG on the chart.

3️⃣ Recovery from the bottom

The drop found support around 0.0217 to 0.0220 then the price came up. That reaction is important because it shows that buyers are still protecting this area.

4️⃣ Moving average support

The moving average is rising under the price and is getting closer to the same support area. If the price continues to stay above this it adds support to the long idea.

The trade plan

I don't want to enter just because the price hits the area.

My favorite situation is:

Pullback → price holds between 0.0220 and 0.0226 → reaction → continuation

If BMT goes back up and holds 0.02310 that is the first sign that buyers are taking control.

Above that 0.02430 is the important target, followed by 0.02550, which is closer to the upper supply and FVG area.

If the price moves strongly enough the old high of 0.0278 becomes the bigger level to watch.

⚠️ Invalidation = 0.02100

If the price breaks below 0.021 the bullish setup is no longer valid for me. I would rather take the planned loss than move the stop loss lower and hope for a recovery.

Also with 20x leverage how much you trade is very important. Leverage should not be used to take risk. The stop loss should stay in place.

This is my setup, not a promise. BMT is very changeable so getting confirmation and managing risk is more important than hitting an entry number.

Would you take the long from 0.0220, to 0.0226. Wait for BMT to go back up to 0.0231 first? 👇

‍#BMT #CryptoTrading #Altcoins
@Gate_Square$BMT