$QNT 📉
QNT is down over 11% today and everyone's waiting on a bounce — I'm watching the lower high that bounce is walking into. 📊
📌 $QNT
Direction: Bearish
Position Entry: 250.20
Downside Stop: 263.76
Profit Target 1: 223.08
- Trend reads bearish and price is parked in premium, right under the last lower high at 253.95.
- Every bounce since the 372.70 swing high has topped out lower, so the falling trendline is still holding.
- The freshest bearish break came only five bars back under 218.22, which keeps sellers in charge here.
- Price is also sitting inside the bearish zone stretching from 240.09 up to 263.76, a natural spot for a fade.
- The stop sits above 263.76, so if buyers reclaim that band the level breaks and I am out.
- First target is the prior low near 218, with the deeper sell-side level around 195 as the stretch goal.
Fading a bounce can snap back on you fast, so keep the size boring and let the stop do the work.
#Trading #CryptoSignals
QNT is down over 11% today and everyone's waiting on a bounce — I'm watching the lower high that bounce is walking into. 📊
📌 $QNT
Direction: Bearish
Position Entry: 250.20
Downside Stop: 263.76
Profit Target 1: 223.08
- Trend reads bearish and price is parked in premium, right under the last lower high at 253.95.
- Every bounce since the 372.70 swing high has topped out lower, so the falling trendline is still holding.
- The freshest bearish break came only five bars back under 218.22, which keeps sellers in charge here.
- Price is also sitting inside the bearish zone stretching from 240.09 up to 263.76, a natural spot for a fade.
- The stop sits above 263.76, so if buyers reclaim that band the level breaks and I am out.
- First target is the prior low near 218, with the deeper sell-side level around 195 as the stretch goal.
Fading a bounce can snap back on you fast, so keep the size boring and let the stop do the work.
#Trading #CryptoSignals