Short

BTCUSD - QM

By rtang1995

Updated

Looking for this Quasimodo to play out
Breaker around 6.8k failed to act as support on the way down, now expecting it to flip resistance and push price deeper into this weekly demand zone before a bounce

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Including the wicks this is already in play

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Lol well that happened much faster than I expected. QM doesn't have a price target but head to neckline targets the 200 week EMA which is where I expect BTC to bottom.

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Should expect a bounce in candle closes back inside the trading range, otherwise continued downside

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Daily close within the range into CBOE futures expiration + bull divs on 1D + near ATH BTCUSDSHORTS leading to short squeeze/relief rally seems the most likely setup at this time

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Eyes here as potential scenario
Two clean lows, trigger sell stops underneath before bounce

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Looking for this to play out
A lot of people saying this daily looks bullish, but on the 4H it's clearly grinding up on low volume
I still think we sweep 5750 lows before a short squeeze

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Short term idea (1H,4H,1D)
4H + 1D 5EMA uptrending
Looking for long at 6300 (4H Breaker + Range EQ) after possible swing failure + bear div
SL on other side of breaker

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Will start scaling in at this 1H breaker + 200H EMA
55+89H EMA confluence at Range EQ

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Out of entry in 1H Breaker at small loss, luckily got filled at 6301 on Binance (low was 6300.95!)
Taking profit here, looks like 200H EMA flipping to resistance, no volume to be found

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No longer looking for longs, all TFs 5EMA downtrending

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Almost a week of trapping positions, breakout will be explosive
I know everyone's eyes are on the shorts stacking, but momentum is favoring the bears after today's shooting star.
If things were bullish, why would such a good opportunity to squeeze the shorts get faded so hard?

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Short opportunity on retest of top blue box, long opportunity in bottom blue box
Let's see if this plays

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Above setup also can be seen as another Quasimodo lol

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Time to roll over

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Or not

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55 4H EMA flipped to support
Already longed this and a couple alt/usdt pairs with generous stop, too much whipsaw

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Locked in a 10% gain for XLMUSDT in this daily supply zone, moving BTCUSD stop into slight profit.

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Was a good idea to take profit and move stops up

Looking to take this
Long bottom of 4H demand zone, target 55 4H EMA as retest of the breakdown before further selloff

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Why long?
It doesn't make sense to me for price to just rollover on the 2nd test of the 89W EMA
A squeeze to 6.8-7.1k before going lower does make sense to me

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ETHUSD chart, coincides with BTC short term upside target
Corrective wave up to retest breakdown, then doom

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Impulsive wave down, extension targets my desired entry
Playing around with impulsive and corrective waves while ignoring global count, seems to me they're the valuable part of EW's

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Weekly closed strong, looks like a rounded bottom
Long when I get a setup

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Looking for a long

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Buy range

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Seller absorption at 6520

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Wonder if it'll flip resistance

rtang1995

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