$BTC broke below the 76.2K PML as stocks dumped hard — naturally, Bitcoin followed down to 75.2K. Now we're trading under that level and it's flipping to resistance.
After a flush like this, the job is to stay objective and read what's actually there. OI data shows a ton of shorts opened during the drop — classic fomo chase. If price can shift locally, a long to squeeze those late shorts could work well.
But if we keep rejecting the PML and NFP triggers more selling, then it's just a waiting game for a cleaner local bottom to re-enter longs.
I'm not shorting here. For continuation shorts I need quality retests higher in this range, or a fresh dump that creates a new lower range to work with.
The red boxes on the chart mark potential long targets — both could act as resistance zones. Best-case scenario for longs: we tap the 74.9K September low before catching a relief bounce.
Right now it's just pre-NFP chop. Not touching anything until after the release. No edge, no trade.
After a flush like this, the job is to stay objective and read what's actually there. OI data shows a ton of shorts opened during the drop — classic fomo chase. If price can shift locally, a long to squeeze those late shorts could work well.
But if we keep rejecting the PML and NFP triggers more selling, then it's just a waiting game for a cleaner local bottom to re-enter longs.
I'm not shorting here. For continuation shorts I need quality retests higher in this range, or a fresh dump that creates a new lower range to work with.
The red boxes on the chart mark potential long targets — both could act as resistance zones. Best-case scenario for longs: we tap the 74.9K September low before catching a relief bounce.
Right now it's just pre-NFP chop. Not touching anything until after the release. No edge, no trade.
