nice intraday recovery in a 2 wave pattern
long green bar but still engulfed by those 2 long red bars tues & wed.
looks like yet another suckers rally
another lower low at 13.5 (priors were 17.0)
base level is 10c
I called a return to 8c-13c again so hit that again today on open & bounced off.
We saw this also the last dropaway, holding around 13-1`5 till the capitulation drop to 10.0c.
The pro traders are playing games here,
Its in a rounding top pattern on the monthly which completes at 10.0c.
Has to show some dragonfly dojis, flatlines and stronger volume as signals its a floor and the selldown is over otherwise may keep seeing these bearish patterns and V rebounds with volatility.
Its 4 times the MC of former biotech star AHZ which has actual revenues of $25Mpa, a factory and fda approved globally selling products and equipment with phase 3 trials done. BIT has none of these but a long future of CRs and lengthy expensive time consuming studies to go.
Till the TA recovers and shows the classic floor and rebound signs I wouldnt touch it.
Too many rampers and suckers rallies here.
BIT Price at posting:
15.5¢ Sentiment: None Disclosure: Not Held
