BOME Trading Scenario
The asset price chart has completed the correction from the $0.018578 level to the $0.007099 level, which represents more than 60% of the correction.
Currently, the asset is trading within the ascending trading channel, pushing away from the sloping support and resistance levels.
The volume profile indicates that participants continue to demonstrate interest in continuing the ascent within the channel.
Touching and rebounding from the sloping support level may be an optimal entry point for a position that will continue to grow, with a probability of subsequent breakdown of the sloping resistance level and continued upward movement.
Currently, the asset is trading within the ascending trading channel, pushing away from the sloping support and resistance levels.
The volume profile indicates that participants continue to demonstrate interest in continuing the ascent within the channel.
Touching and rebounding from the sloping support level may be an optimal entry point for a position that will continue to grow, with a probability of subsequent breakdown of the sloping resistance level and continued upward movement.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.