Bubblemaps (BMT) Gains 100% in a Day as Bithumb Listing Fuels Rally

Key Takeaways

• Strong impulse wave, now entering corrective consolidation.
• Resistance at $0.289, with key support at $0.245.
• RSI cooling off from overbought conditions, signaling potential retracement.
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Bubblemaps (BMT) has skyrocketed 125% in the past day, reaching an all-time high of $0.22 on March 18, with weekly gains exceeding 200%.

The surge follows BMT’s upcoming listing on the South Korean exchange Bithumb, set for 4:00 PM KST, and its recent addition to Binance Futures. 

Market enthusiasm drove trading volume up 260% to $107 million, pushing its market cap to $54.1 million.

Bithumb’s launch will include temporary trading limits, initially restricting price movements and delaying automated trading until after the first transaction.

Additionally, an ongoing BMT airdrop has seen many claimants holding rather than selling, reinforcing the bullish momentum.

With major exchange support and growing investor interest, BMT continues to experience heightened volatility and strong market activity.

BMT Price Analysis

BMT has experienced a powerful bullish breakout after trading within a wedge formation.

The 4-hour chart shows a well-defined five-wave Elliott Wave structure, with wave (iii) pushing the price to a local high near $0.279.

The impulsive move surpassed multiple Fibonacci levels, confirming strong buying momentum.

The price is undergoing a wave (iv) correction, which is expected after such an aggressive rally.

The most probable support zone lies between $0.245 (1.272 Fibonacci level) and $0.211 (1.0 Fibonacci level), where buyers may step in for the next leg higher.

If the correction deepens, the 0.786 retracement level at $0.184 would be critical support.

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The RSI on the 4-hour timeframe is retracing from overbought conditions, indicating that the market may cool off before continuing its uptrend.

A bounce from key support levels would confirm that the correction is ending, setting the stage for wave (v) toward the next major resistance at $0.337 (2.0 Fibonacci extension).

BMT Price Prediction 

The 15-minute chart provides a detailed view of BMT’s short-term movement. The price is currently in a corrective phase, forming what appears to be a contracting triangle structure.

This suggests consolidation before the next impulsive wave is higher. The key support region lies near $0.245, aligning with wave (iv) completion.

If the triangle pattern holds, BMT could soon resume its uptrend, surpassing $0.279 to confirm wave (v).

Fibonacci extension targets indicate potential resistance at $0.289 (1.618 extension), followed by $0.337 (2.0 extension), which aligns with the previous high.

However, if the price fails to hold the $0.245 support level, a deeper correction could occur, potentially targeting $0.211 (the 1.0 Fibonacci level).

The RSI on the 15-minute timeframe is neutral, reflecting the ongoing consolidation. A breakout above $0.279 with increasing volume would signal renewed bullish strength, while a drop below $0.245 could lead to an extended downside.

Key Levels to Watch

• Immediate Resistance: $0.279 (current wave peak).
• Key Resistance: $0.289 (1.618 Fibonacci extension).
• Major Resistance: $0.337 (2.0 Fibonacci extension).
• Immediate Support: $0.245 (wave iv correction zone).
• Critical Support: $0.211 (1.0 Fibonacci retracement).
• Short-Term Target for Wave (v): $0.337 if momentum sustains.
• Invalidation Zone: Below $0.211, signaling deeper retracement.

BMT remains bullish in the larger trend, with short-term consolidation likely setting the stage for another upward move.

A breakout above resistance could trigger the next impulsive rally, while failure to hold support would suggest further corrective movement before continuation.