#BounceBit BullRun Incoming ⁉️
.
.
.
.
🪷 Fundamentals:
- High TVL compared to market cap.
- Increasing TVL over the last 7 days.
- High trading volume of $500 million.
- Backed by major partners and influencers.
🪷 Technical Analysis:
- Strong resistance level between $0.75-$0.80.
- Expected market volatility in the next 24 hours due to low Sunday volume.
- Relatively uncorrelated with the market, but volatility still impacts.
🪷 My Opinion:
- Staying away from BB for now due to market circumstances.
- Expecting a short-term retrace to $0.65-$0.70.
- Potential breakout above $0.78 could lead to $0.90-$0.95 or $1.
- Needs breakout above $0.78 for confirmation.
🪷 Bearish Case:
- Negative divergence between price and RSI/open interest.
- Likely short-term retrace or pullback before a potential breakout.
