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On the 2-hour chart, BICO is shaping up into a rising wedge. A pattern notorious for signaling bearish reversals. The price action reveals a tightening range with ascending highs and lows, resembling a coiled spring gathering tension.
Should the support level falter, a decisive breakdown is on the horizon, likely unleashing sharp downward momentum. The technicals are crystal clear: this setup is brimming with potential for a dramatic move. Stay sharp this chart is primed for traders ready to seize the opportunity.
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Bearish Momentum Eyes $0.33 Liquidity Cluster as Next Target
Liquidity acts as a market magnet, drawing prices toward areas of high activity. With the current bearish trend, the price seems to be targeting the liquidity cluster around $0.33, like a predator locking in on its next prey.
Signal Type : Short
Entry: 0.344 or market price
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1st Tp: 0.331
2nd Tp: 0.316
3rd Tp : 0.301
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