$BTC big short round 2 now, big profit coming tonight
entry 76000-77400
short $BTC 👇
$BTC swept the September low around $75K, exactly as we discussed earlier this week.
I’m long here according to plan. Definitely a risky setup, but considering the amount of SSL we’ve just taken, it’s a risk I’m willing to take.
The sweep was pretty shallow, and the move back up wasn’t exactly clean either. Add Saturday’s pump on top of that, and I’d still like to see another sweep, at least around the $75.8K SSL.
That said, this low could hold. If we take weekend liquidity next week but price manages to hold the low, I’ll be looking for a valid trigger to add or enter longs.
We’ve already taken plenty of sell-side liquidity, so looking toward buy-side objectives makes sense here.
First target is the $77.5K M.O., followed by the red zones marked on my chart.
One thing to keep in mind: the previous monthly low (PML) is currently acting as resistance. But I don’t short just because price hits resistance. I need a higher retest first, according to my system.
If the PML keeps rejecting price and we get a clean bearish displacement, short continuation could come into play.
And I’m not blindly bullish either. If price rejects the PML and starts moving lower, I’ll be cautious with longs. I want to see a clean shift in structure before taking another long.
Let’s see how price delivers from here.
entry 76000-77400
short $BTC 👇
$BTC swept the September low around $75K, exactly as we discussed earlier this week.
I’m long here according to plan. Definitely a risky setup, but considering the amount of SSL we’ve just taken, it’s a risk I’m willing to take.
The sweep was pretty shallow, and the move back up wasn’t exactly clean either. Add Saturday’s pump on top of that, and I’d still like to see another sweep, at least around the $75.8K SSL.
That said, this low could hold. If we take weekend liquidity next week but price manages to hold the low, I’ll be looking for a valid trigger to add or enter longs.
We’ve already taken plenty of sell-side liquidity, so looking toward buy-side objectives makes sense here.
First target is the $77.5K M.O., followed by the red zones marked on my chart.
One thing to keep in mind: the previous monthly low (PML) is currently acting as resistance. But I don’t short just because price hits resistance. I need a higher retest first, according to my system.
If the PML keeps rejecting price and we get a clean bearish displacement, short continuation could come into play.
And I’m not blindly bullish either. If price rejects the PML and starts moving lower, I’ll be cautious with longs. I want to see a clean shift in structure before taking another long.
Let’s see how price delivers from here.
