BTMX Technical Analysis: Declined from Opening Price of $1.64
Past Performance
On March 25, 2021, the opening price of BTMX was $1.85. As of March 31, 2021, BTMX closed at $1.65. Thus, in the past week, the BTMX price has declined by roughly 12%. In the last 24 hours, BTMX is trading between $1.62-$1.66.
Day-Ahead and Tomorrow
Currently, BTMX is trading at $1.62. The price has declined from the opening price of $1.64. Thus, the market looks bearish.
The MACD and signal lines are in the negative region. Moreover, a bearish crossover by the MACD line over the signal line has occurred. Thus, the overall market momentum is bearish. Hence, we can expect the price to fall further.
In the past 24 hours, the OBV indicator has risen sharply. Thus, buying volumes are much higher than selling volumes. Hence, the price is likely to go up.
Currently, the RSI is at 27%. It is in the ‘oversold’ region. Thus, selling pressures are very high. It is a great time for day traders to take long positions in the market. High sell-offs will exert downward pressure on the BTMX price. Hence, we can expect a further price dip.
BTMX Technical Analysis
As per technical analysis, the price has fallen below the first Fibonacci pivot support level of $1.625. If the bears remain strong, in a few hours we can expect the price to fall below the subsequent support levels of $1.61 and $1.60 respectively.
In a few hours, the price is likely to test and fall below the 138.2% FIB retracement level of $1.60. Probably, a downtrend has set in. Thus, the bear-run is expected to continue tomorrow as well.