In Short:$BTC
The market is showing some serious impulsive expansion, pushing price directly into a major resistance zone. While the momentum has been strong, we are starting to look for signs of short-term exhaustion.
âIâm currently mapping out a potential short setup, but the key here is patience. We aren't just "fading" the move; we are waiting for the price to tell us it's tired.$BTC
âđ The Strategy: Identifying the Rejection
âWe are looking for a lower high formation or a clear rejection near the recent peaks to confirm that the upside move is losing steam.
âPro Tip: Avoid shorting into strong momentum candles. Wait for the candles to get smaller or show long upper wicks (wicking out) before considering an entry.
âđ The Trade Setup
Parameters Level's
Entry zone. 68,800-69,400
(Prefer rejection weak ratest)
Stop loss (SL). 70,200
Take Profit 67,200
Take Profit 2. 66,000
Take Profit 3. 64,800
đĄïž Risk Management & Structure
âThe current structure shows price pushing into resistance after a fast move up. If we see a failure to break higher, it opens the door for a downside continuation toward our target levels.
âIf the bulls manage to print a strong closing candle above the entry zone with high volume, the thesis is invalidated. Protect your capital first!
âDisclaimer: This is my personal market view and not financial advice. Always do your own research.