Institutional QVX momentum: SHORT.
Price is pressing into 74843.82 resistance where dealer gamma flips positive and sell-side flows dominate. I just initiated the short at 74,100, scaling into the rally rather than chasing the break. Target one sits at 72727.27 support, where put walls and short-covering bids cluster. Stop is hard at 75,050 — above the resistance shelf and recent liquidity sweep. Risk is 0.8% of book, reward-to-risk roughly 3:1. Positioning is stretched long into a thinning tape; funding still positive but rolling over. The ETH narrative noise is secondary — QVX already carried the short bias before the headline. Execution is mechanical from here. 💼
Price is pressing into 74843.82 resistance where dealer gamma flips positive and sell-side flows dominate. I just initiated the short at 74,100, scaling into the rally rather than chasing the break. Target one sits at 72727.27 support, where put walls and short-covering bids cluster. Stop is hard at 75,050 — above the resistance shelf and recent liquidity sweep. Risk is 0.8% of book, reward-to-risk roughly 3:1. Positioning is stretched long into a thinning tape; funding still positive but rolling over. The ETH narrative noise is secondary — QVX already carried the short bias before the headline. Execution is mechanical from here. 💼