$BIO Trading Strategy Update
🔎 Key Insight:
A long liquidation of $6.833K at $0.6833 indicates selling pressure, with bears gaining control. This signals potential for further downside but also offers a rebound opportunity if buyers step in.
📉 Next Move - Buy Zone, Target & Stop Loss
1️⃣ Buy Zone:
Wait for the price to stabilize between $0.675 - $0.685. This range is ideal for entering a position if bullish recovery begins.
2️⃣ Target Levels:
Target 1: $0.700 (initial resistance level)
Target 2: $0.720 (key breakout zone)
Target 3 (Stretch Goal): $0.740
3️⃣ Stop Loss:
Set a stop loss at $0.665 to protect against further downward movement.
💡 Strategy Insights:
Volume Confirmation: Monitor volume around $0.6833. A rise in buying volume could indicate a potential reversal.
Risk Management: Keep your position size small to manage risk in a volatile market.
Market Trends: Keep an eye on broader market movements or news impacting $BIO.
🚨 Pro Tips for Success:
Watch for Support: Ensure strong support around $0.675 before entering the trade.
Secure Gains Gradually: Take profits at $0.700 and $0.720 while leaving some for the stretch target of $0.740.
Set Alerts: Use alerts for $0.685 and $0.700 to stay updated on price action.
Trade cautiously and stick to your plan. Patience and risk management are key to navigating this market effectively!
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