The current price of $BB stands at $0.3198, with a key support level at $0.3110. The chart indicates that if the price falls below this support, there is a strong likelihood of further downward movement.
The next significant targets on the downside are $0.3050 and $0.2995, which could be reached if the support at $0.3110 is breached. This scenario suggests a potential short trade opportunity.
In this setup, traders could consider entering a short position if the price drops below $0.3110.
The targets for this short trade would be $0.3050 and $0.2995, offering a possible profit range as the price declines.
However, it is essential to manage risk effectively, and in this case, a stop loss should be placed at $0.3270. This stop loss is set above the current resistance level, ensuring that the trade is protected if the market unexpectedly reverses and moves higher.
