Bao Finance has been in a consistent downtrend for around 36 days now, extremely similar to the previous downtrend breakout pattern that lasted 39 days. Will we see a similar reaction?
BAO is starting to look like is at a buy range. The downtrend basis might be broken soon and even retested at lower level but this coin has been on considerable correction for awhile. The only thing still missing is significant volume bakcing up uptrend but those 4h and D wicks are looking promising.
RSI (signal) is at extreme low levels like in the past and...
Bao is another low cap coin available on FTX with currently no buzz (often come AFTER it pumps). The technicals are starting to look good. Great chance we start seeing soon the breakout of the downtrend assuming that Bitcoin will return to growth. Check video for my thoughts on it.
BAO looks like it's ready to blow.
Reasons to buy:
-High timeframe bullish divergence
-It has dipped into the accumulation zone a number of times and the last time it was bought up quickly
-Volume has increased significantly
-10EMA crossed above 20EMA showing strength
Buy and hold - 177% gains might just be the start.
