๐ป $S FAILS TO RECLAIM STRUCTURAL CHOCH AS INSTITUTIONAL SUPPLY REJECTS RECOVERY ๐
Entry: 0.061000 - 0.062000 โก
Target: 0.055190 ๐ฏ
Stop Loss: 0.063600 โ ๏ธ
Price action on $S confirms another failed push into overhead supply, closing firmly back below the H1 change of character at 0.058640. ๐ Persistent lower swing highs and classic Wyckoff distribution dynamics indicate that the markdown phase is steadily developing.
๐ Chasing current momentum directly into demand at 0.053500 carries poor execution risk. ๐ฆ We await an inefficient retest into the 0.061000โ0.062000 supply block to establish high-probability positioning before seeking downside liquidity. ๐ค Will sellers defend this supply block on the next expansion, or can buyers engineer an invalidation sweep? ๐
โ ๏ธ Not financial advice. Always manage your risk. ๐ก๏ธ
๐ท๏ธ #S #ShortSetup #PriceAction #Crypto
๐ฏ ๐ฆ
Entry: 0.061000 - 0.062000 โก
Target: 0.055190 ๐ฏ
Stop Loss: 0.063600 โ ๏ธ
Price action on $S confirms another failed push into overhead supply, closing firmly back below the H1 change of character at 0.058640. ๐ Persistent lower swing highs and classic Wyckoff distribution dynamics indicate that the markdown phase is steadily developing.
๐ Chasing current momentum directly into demand at 0.053500 carries poor execution risk. ๐ฆ We await an inefficient retest into the 0.061000โ0.062000 supply block to establish high-probability positioning before seeking downside liquidity. ๐ค Will sellers defend this supply block on the next expansion, or can buyers engineer an invalidation sweep? ๐
โ ๏ธ Not financial advice. Always manage your risk. ๐ก๏ธ
๐ท๏ธ #S #ShortSetup #PriceAction #Crypto
๐ฏ ๐ฆ